Photography by Getty Images; Illustration by Bankrate

Key takeaways

  • You may be eligible for federal and private student loans without a parent.
  • Explore federal student loans first, as they feature more benefits than private ones.
  • Ultimately, your university’s financial aid office will determine your dependency status based on the answer provided on the FAFSA.
  • If a private student loan is a better fit, consider applying with a cosigner if you don’t have an established credit score.

It’s possible to secure funding for higher education costs without a parent, but you may encounter a few hiccups. For starters, you will need to be considered an independent student — or find other resources to finance your education.

The good news is that as long as you fill out the Free Application for Federal Student Aid (FAFSA), stay in contact with your school’s financial aid office and explore private loans, you may still be in luck. Always start with federal student loans before you consider private loans. Both federal subsidized and unsubsidized loans have borrower protections and don’t have the same credit requirements as private loans.

Eligibility for independent student status

All graduate and professional degree-seeking students are considered independent, but undergraduate students must fit the eligibility requirements outlined by the Department of Education. Independent undergraduate students meet at least one of the following requirements for the 2025-2026 form:

  • You’re born before Jan. 1, 2002.
  • You’re married or remarried.
  • You’re a master’s or doctorate student.
  • You’re a veteran or a member of the U.S. armed forces (not training).
  • You have dependents who live with you other than a spouse.
  • Since you turned 13, both of your parents are deceased, or you were in foster care, a dependent or ward of the court.
  • A state court has determined you’re an emancipated minor, or someone other than your parent or stepparent has legal guardianship of you.
  • You’re unaccompanied (not under the physical custody of your parents) and experiencing homelessness or at risk of experiencing homelessness on or after July 1, 2024.

How to apply for federal student loans as an independent student

To apply for a federal student loan, fill out the FAFSA. Your answers to its questions determine your dependency status, influencing whether you can take out a student loan without a parent and how much you can borrow. Here’s how to get started:

Step 1: Gather the necessary information

You will need the following documents when filling out the form as an independent student:

  • Social Security card
  • State-issued ID
  • Most recent W-2 forms
  • Most recent federal income tax return
  • Most recent bank statements

Step 2: Submit the FAFSA

Once you’ve gathered this information, complete the FAFSA:

  • Create an FSA ID: You’ll use these credentials to log in to the online dashboard and complete the FAFSA.
  • Provide consent to retrieve your tax return: You must grant FAFSA permission to import your tax return information directly from the IRS before submitting the FAFSA.
  • Complete the form in its entirety: It consists of six sections, which should be completed and checked for accuracy. Be sure to indicate you’re a legally emancipated minor when prompted (if applicable).

Step 3: Contact your school’s financial aid office

Reach out to your school’s financial aid office after submitting the FAFSA. The financial aid office will determine your dependency status and what aid you qualify for.

3 Ways to get private student loans without a parent

If federal student loans, scholarships and grants won’t cover all of your education costs, private student loans can help fill the gap. Private student loans often require borrowers to add a cosigner or have an established credit history. That makes approval more difficult, but you have a few options.

1. Ask another relative to cosign the loan

You can ask a relative or a trusted friend to sign the loan documents. Eligibility requirements vary depending on the lender and the loan you want to take out.

Generally, the cosigner will need a regular source of income and a good credit score to qualify. The cosigner is agreeing to take over the loan payments if you fall behind, so they will need enough room in their budget for this possibility. Be aware that cosigners may also be responsible for your debt in the case of your death, so be sure to have a term life insurance policy to cover the debt if your loan isn’t discharged if you die earlier than expected.

2. Find a lender that doesn’t require a cosigner

Some private lenders don’t require a cosigner for borrowers with a thin credit history. Instead, they will consider factors like academic merit or future potential income, which means the flexibility around your course of study could be impacted.

For instance, Ascent and Funding U cater to students without a cosigner. They offer private student loans based on factors like GPA, school, program, graduation date and major of study.

3. Increase your credit score

Some larger lenders may accept students without a cosigner if they have strong credit and a steady income. If you’re new to credit or your credit score could use a boost, here are some steps to improve it:

  • Get a student credit card: You may qualify for a student credit card if you have income or someone willing to cosign the card agreement. Be sure to keep the balance low and make timely payments to build healthy credit. The same applies if you already have credit cards.
  • Become an authorized user: Ask a friend or relative with excellent credit to add you to their account as an authorized user. Their positive payment history and credit use will be reflected on your credit reports and possibly increase your score.
  • Add alternative data to your credit report: You can add your rent or utility bills to your credit reports, and the on-time payments may boost your credit score.

Challenges of getting a student loan without a parent

Although you can take out a student loan without parents, you will face extra challenges. You may have difficulty qualifying for a federal student loan unless you’re considered an independent student. The same applies if your credit history is insufficient or if you have minimal income.

With private student loans, you will have to go through extra steps to qualify without a cosigner. You may also likely pay higher interest rates because the loan is riskier for the lender, and you may struggle with payments if your income is low.

The upside is you can identify lenders when accepting cosigners and bring one on board when applying. You can also take the necessary steps to start improving your credit score sooner rather than later. Either of these actions can help combat these roadblocks often faced by those seeking student loans without a parent and aid in boosting approval odds.

Bottom line

While it may be more difficult to get approved without a parent, a student loan can help you finance your degree. This, in turn, can open career and salary advancement opportunities and help you build credit.

To make the best decision for you, figure out which loans you qualify for, weigh the pros and cons and craft a repayment plan before taking out a student loan without a parent.

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