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Students have very little income
While attending college, most students do not yet possess the necessary skills or knowledge to have a high paying job. Even if they did, most of their time is spent in class or studying. Because of this, most college students do not meet the necessary income requirements for private lenders.
Very high-interest rates
If you are barely able to meet the requirements above but have no cosigner, the lender will make up for this insecurity by charging you a much higher interest rate. Although this is an option, it could be very detrimental in the long run and limit your repayment options.
@Royalty_consultancy
Students have very little income
While attending college, most students do not yet possess the necessary skills or knowledge to have a high paying job. Even if they did, most of their time is spent in class or studying. Because of this, most college students do not meet the necessary income requirements for private lenders.
Very high-interest rates
If you are barely able to meet the requirements above but have no cosigner, the lender will make up for this insecurity by charging you a much higher interest rate. Although this is an option, it could be very detrimental in the long run and limit your repayment options.
@Royalty_consultancy