Get a Loan Without a Job For School

​As the number of college students increases annually, there are more and more options as far as loans and financial assistance goes. While most students that opt for loans tend to work along with the study, it can be hard for a student that decides to take on a full course load and work at the same time. Most loan agencies do take that into account and while some may not allow you to take a loan without a job, it isn’t impossible to get a loan even when you don’t have a job. 


If you don’t have a job and are looking for a loan to help you with your studies then FAFSA is a great option. The aid is provided by the Department of Education and doesn’t require you to have a job in order to be granted the loan. You need to fill out all the forms accordingly and will be required to have a co-signer, it can be a parent or any other adult with a job.

FAFSA is a federal loan and these should be your first option when it comes to loans over private loans. Since it is through the government FAFSA is slightly more flexible in terms of paybacks and also loan deferment and forgiveness. The plan usually starts when you graduate and get a job as the repayments are income driven.

There are different types of federal loans you can get without a job:

  • Subsidized loans: these are also known as Stafford Loans and are for undergraduate students who look to pay for a college or career school. 
  • Unsubsidized loans: available for all types of students: professional, undergraduate or graduate. You don’t need to show any financial needs for this particular loan.
  • Perkins loans: for students that show financial needs and these loans differ from school to school.

Most students opt for federal loans first, if they get it and still need additional money then private loans can cover the remaining amount. Private loans are more strict as far as paying back the loan goes and tend to generate more interest also. However, that depends on the amount and the contract that is signed between you and the lender.

Getting a loan without a job isn’t impossible. You just need to be able to show that you need the assistance and have a co-signer that is willing to take responsibility along with you for the loan.