Does your major and GPA affect your loan's interest rate?

Paying for College
1

<p>I will likely need to take out a student loan next fall, and my parents would rather not co-sign if they can help it. </p>

<p>Presuming I can take out a loan without my parents’ signatures, does anyone know if your major and/or GPA affect your offered rate? </p>

<p>I imagine that an engineering/premed major with a 3.9 GPA is a better risk than a sociology major with a 2.5 average.</p>

2

<p>It does not affect Stafford loans.</p>

3

<p>I should have clarified. Assume private loans.</p>

4

<p>None of the loan programs that we investigated based their loan rates on majors and/or GPAs.</p>

5

<p>Can you even take out a private loan without your parents cosigning?</p>

6

<p>Sure you can, you may have to get someone else to cosign for you. </p>

<p>However if you are asking if you can take out a private loan based on the creditworthiness of a 17/18 year old with no substantial income or assets with out getting your parents involved, there is a very good chance that the answer is no.</p>