Loans for Students without Cosigners
Illinois No-Cosigner Loan
The Illinois No-Cosigner Loan product, provided through Funding U, is available to students who do not have a cosigner to help acquire financial aid. It offers no fees, flexible in-school payment options, and a Fixed Annual Percentage Rate range of 8.49% to 9.99%* for upperclassmen and 9.49% to 9.99%* for underclassmen, depending on your creditworthiness, academic performance, and the repayment option you select.*
Funding U provides private loans to high-achieving college students, regardless of family income, focusing on their dedication and achievements rather than a cosigner’s financial status or credit score.
This product was designed for borrowers who have struggled to access private student loans because of a lack of credit score or adequate cosigner. There is no credit score or cosigner requirement to apply for this loan.
Why Choose This Loan?
No cosigner or credit score required
No fees
Flexible in-school payment options
Fixed APR:
8.49% – 9.99% for upperclassmen*
9.49% – 9.99% for underclassmen*
*Borrowers can qualify for a 0.50% interest rate reduction by enrolling in automatic monthly payments from a checking or savings account lowering the interest rate range to an APR of 7.99% to 9.49%. This auto-pay discount is applied as long as automatic payments are maintained. Credit or debit card payments do not qualify for this discount.
Are You an Eligible Borrower?
Eligibility starts with one word: Illinois.
Applicants must be Illinois residents attending an eligible Illinois public or private not-for-profit higher education institution.
Eligibility is limited to approved institutions. Check your institution’s eligibility.
