What if I don't have a credit history? Can I still get a student loan?

Yes. You can get federal student loans — the ones for students do not require a cosigner or a credit check.

If you want to get a private student loan, you'll likely benefit from having a creditworthy cosigner. Cosigners with strong credit records can lower your interest rates.

I don't have a credit history but my parents made me an authorized user on a credit card. Will I be able to get a student loan in my own name?

Yes. Nearly everyone can get federal student loan money.

Do student loan payments show up on my credit report?

Yes. You'll see your student loan amounts and payment history on your credit report. If you make your payments on time, your credit report will show that you take responsibility for your financial obligations. This can help you build a strong credit history.

Do student loans show up on my cosigner's credit report?

Yes. Student loan payments show up equally on both your and your cosigner's credit reports. Paying on time helps both your credit ratings.

Can I still get a student loan if I owe a lot on credit cards and have had previous student loans?

Yes. Federal student loans do not take into account your credit rating. But if you have ever defaulted on a federal student loan, you won't be able to get another one until you make your old student loan account current.

Private student loans take your other debt and credit rating into account. This is where a cosigner can help you get a better rate. Creditworthy cosigners may be able to lower your interest rates.