Start your research today and trust me, you will find one or the other lender who will be able to give you a loan without your co-borrower. Please note that having or not having a co-borrower for your loan is subject to the credit history of your co-borrower. If he has a good credit history, you would not mind getting him on-board for signing the loan agreement. Think twice if it is otherwise.
There are many financial institutions that offer private student loans with bad credit. The only fuss in the deal is the requirements of the financial institutions. Most entities that I know of providing this service would require a Co-borrower or a Co-Signer. This means as a student you and your parents would need to sign on the loan agreement agreeing to repay the loan.
Besides a standard loan for which a loan agreement is drawn up, there is another popular type of loan, the demand loan. That is a short term loan, with a period of repayment for up to 180 days. The date for the repayment of the loan is not fixed, and the interest rate for it is a floating one. The demand loan offers advantages for both borrowers and lenders. The lender can demand the repayment of the loan at any time, and on the other hand, the borrower does not need to adhere to a repayment in installments, as the repayment should be made for the entire amount. Furthermore, demand loans are easier to qualify for.
Deferred payments are usually placed at the end of the loan and payment terms extended. The type of loan is a contributing factor as to how many payments can be skipped. On average, lenders allow borrowers two to three months to resolve financial setbacks.
sample loan agreement between two parties
sample loan agreement between two people
loan agreement format