Establishing Credit with a Student Loan
There are many ways to establish credit. Taking out a credit card and making regular payments is one way. For those who don’t want the responsibility of a credit card, getting a student loan to attend college in California can help young adults establish credit. Before parents co-sign a student loan for their pupil, they should verify that their credit is up to par.
Student Loan Rates in California
Student loan rates are typically based on the credit worthiness of the borrower, as well as the credit worthiness of a co-signer or parent. The better the credit score the lower the student loan rates. Banks and lenders look at many things to approve a student, or approve a graduate consolidating their student loans, but in order to get the lower student loan rates, a borrower should either have very strong credit, or at least find a co-signer with great credit. California Banking Rates finds the best student loan rates for people in California.