How to Get a Loan If You Are Under 18

No matter how old you are you may find the need for a loan to help cover you where your standard income doesn't. If you are younger than 18 you may just be entering college and need a financial loan, or perhaps extra money for an upcoming trip. Whatever your reason for the extra money, you need to jump through a few extra loopholes to receive your loan, due to you not having the extensive credit history as some older individuals.

Step 1

Talk to your parents or guardian. You need to have a co-signer's signature on the application forms to be considered for the loan.

Step 2

Stop by the credit union or bank you are part of. These facilities are more likely to give you a loan (due to your lack of a credit history). Credit unions typically have better interest rates attached to the loans.

Step 3

Make an appointment with a financial counselor at your college. These individuals can steer you in the right direction for an appropriate student loan.

Step 4

Fill out the paperwork and submit the form either by mail or over the Internet (depending on the kind of loan). Electronic submissions are usually reviewed more quickly. Your response paperwork will tell you if you have been approved for the loan and what the interest rate is. If you want to go through with the loan and interest rate, you need to sign the paperwork and return it to the financial institute.

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