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Home >> Lending >> Personal
Getting a Personal Loan for College
I will will be turning eighteen in about six months, and moving to Boston for college. I will have no job for a couple of weeks, until I get settled. Will I be able to get a small loan from the bank to help me get settled in Boston (apartment, school stuff, a car, etc.)?
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 What you define as small, moving expenses, down payments, a car, etc. may be a large personal loan. Getting the loan you describe depends on how well you qualify, and what the lenders' requirements are.
Assuming you have no collateral, and a limited or nonexistent credit history, the chances are slim without a cosigner who would be qualified. Two important things the lender wants to see are capacity to pay, and your history of payment. This is why people "build" credit, and why a cosigner should be considered in advance.
Published on BankingQuestions.com 2/02/10
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