No-Cosigner
Student Loans

For Undergraduate Students

Unlike traditional student lenders who require a cosigner or stellar credit history, Funding U evaluates student applicants based on their proven academic merit and predicted outcomes. We provide our school partners with a solution for a population of students that traditional private loan providers are unable or unwilling to serve.

WE NEVER REQUIRE A COSIGNER... EVER

Funding U provides our school partners with a viable and responsible borrowing solution to support those students who do not have access to a creditworthy cosigner.

WE ALWAYS VALUE GPA MORE THAN FICO SCORES

The Funding U model measures students on things they can control during college (e.g. GPA), rather than things outside of their control such as their family's credit history or FICO scores.

WE HAVE THE LOWEST INTEREST RATES FOR NON-COSIGNED LOANS

Funding U loans are funded, in part, by impact investors whose mission is to increase access to higher education. This allows us to keep rates as low as possible, regardless of the macro environment.

Certifications can be sent via:

ELM

ScholarNet

Fax

Disbursements can be sent via:

ELM NDN

Great Lakes CDS

EFT

Paper Check

Available Resources About Our Program

Request a supply of our quick-reference guide for financial aid professionals or informational brochures for students.

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ARTICLES TO ASSIST YOUR STUDENTS WITH A VARIETY OF TOPICS

At Funding U, we believe an educated borrower is better equipped to manage their financial obligations responsibly. Our student resources consist of articles on a range of topics from paying for college to job hunting, and more. All articles on the Funding U blog are available for schools to use and share at no cost.

Frequently Asked Questions

What makes Funding U different?

Funding U’s program is our industry’s leading provider of no-cosigner private loans. Our unique program provides the school financial aid office community a solution for students that traditional lenders are unable or unwilling to serve.

Through our non-FICO based, No-Cosigner Student Loan program, Funding U strives to be the leading source of responsible and affordable financing for those high-academic performing students who find themselves unable to secure funding from traditional FICO-based lenders. When a student has exhausted all other options, Funding U’s No-Cosigner Student Loan serves as a viable solution to help them complete college.

Who is eligible for a no-cosigner student loan?

- Must be an undergraduate U.S. citizen or permanent resident
- DACA students with a work-eligible SSN are eligible
- Must be over the age of 18 or the Age of Majority in their state of residence
- Must be a resident of one of the current 38 states in which Funding U is able to lend in
- Must be enrolled full-time in a bachelor’s degree program
- Funding U has minimum GPA thresholds for borrowers

How do you make lending decisions?

We believe that students are more than their credit score. Most undergraduate students have not had a chance to establish a strong credit history. We do lend to all class years and make loans based primarily on a student’s academic achievements and career path. Since upperclassmen will have more academic experience, juniors and seniors are more likely to be approved for our loans. Due to a lack of academic history, it is relatively more difficult for freshmen and sophomores to be approved.

Although we don't use your FICO score to make loan decisions, we do review a student applicant’s credit history. If a student has documented credit issues (missed payments, collection items, charge-offs, etc.), these will negatively impact their chances to be pre-approved for a loan.

Which schools are eligible?

Funding U currently makes loans to students attending 4-year, accredited, not-for-profit colleges in the United States. We have a current list of over 1460 eligible schools. An eligible institution’s 6-Year Graduation and Retention Rate determines what grade level students the Funding U No-Cosigner Student Loan serves.

Does Funding U participate in electronic processing and disbursement of loans through the ELM/ELM NDN and ScholarNet/Great Lakes CDS?

Yes. Funding U utilizes the above industry standard systems to facilitate loan certification and the disbursement of its Funding U No-Cosigner Student Loan program. We are also able to accommodate manual/paper processing of certification as well as disbursement via ACH and paper check.

Does the school need to certify a student's GPA?

No. Our school partners certify Funding U No-Cosigner Student Loans just as they do for the majority of other lenders. We do not ask that the school financial aid office do anything outside of their ordinary process.

Student applicants create a Funding U account. Preapproved students are responsible for uploading any supporting documentation necessary to underwrite their loan, including a copy of their transcript(s) to verify the coursework and grade information provided in their online application.