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Funding U is an online lender that offers private student loans to undergraduate students without a co-signer. In fact, it doesn’t allow co-signers at all. Unlike other lenders, Funding U doesn’t base eligibility on credit history; instead, it looks at students’ GPA and other merit-based factors. While it does have higher interest rates than traditional lenders, it could be a good option for students who have strong grades but who don’t have a creditworthy friend or family member to help co-sign a private loan. However, it does cap annual loan amounts at $20,000, so it’s best for students who have covered most of their expenses with federal loans and need a small amount to fill in any gaps.
This lender is best for undergraduate students with little to no borrowing history who do not have a co-signer.