Loan without co-signer is possible.

[bigheadfish]

This is the reply mail from UCLA
Hope it will be helpful.

1. Does the co-signer have to a US citizen? Will green card holder be
qualified? Most lenders require that the co-signer is a US citizen however by the time you apply for financial aid in mid-February we have some lenders that will offer loans to you without a co-signer but the loan will be at a higher interest rate.

2. Can you give me a list of the banks available for private loan to
foreigners? Due to the many changes in lenders and lenders opting out of the Student Loan business I would rather provide you with the list after the new year when we begin sending our financial aid information. In additions, lenders are not processing financial aid for the AY 09/10.

3. What's the upper limit of my loan? If I will get marry soon, am I
eligible to get more loan? You loan maximum is up to the cost of eduction which includes; tuition, book/supplies, room/board, personal and transportation expenses. No, your budget does not increase to include your spouse.

4. How will the bank determine the interest rate? Is it based on my
credit score, or my co-signer's, or both? For the alternative loans, the interest rates are determined on both.

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[SHINWARI]

loan without a co sighner....
wow thats a good news.
did the financial aid office told you that?.coz the last time i toked to him, there was not even a possibility for a loan without a co sighner due to the economic crises.Did they mention the bank's name which might consider lend us the loan without a cosighner..

 

[bigheadfish]

I simply copied the email from UCLA financial officer.

I think actually with the financial situation now, it will be easy for us to get loan. I just heard news that the government is taking some measurements to encourage the loans for car, house and college. The interest rate is going to drop actually. This is pretty reasonable because Obama's new economy policy is to encourage people to spend money. That's also why so many car dealers are giving 0% APR now.