How to Get a Student Loan as a Minor

by Contributor

Not everyone that goes to college is a legal adult. Many are still just under the age of 18, and there are always the whiz kids who somehow make it to college even younger! If you need to pay for college and are under 18, there are still ways for you to get loans. Here's how to get a student loan as a minor.

Research your options. There's a lot of money out there to assist you for school.

Talk to a financial aid advisor. They are very familiar with the process and may have recommendations that you have not considered.

Get a co-signer. Have a parent, grandparent or any other person in good credit standing to assume responsibility for the loan if you can't handle it on your own.

Visit the FAFSA Web site (see below) and fill out the Free Application for Federal Student Aid. Federal loans (like the Stafford loan) do not require a co-signer. The minimum age to be eligible for federal aid is 16.

Get a parent loan (like the PLUS loan). These are loans for education from the government that are given to the parent of a student. These are need-based as well, and will depend highly on the cost of attendance.

Understand all the terms of the loan. Young borrowers do not have a lot of experience with borrowing money and building credit.

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