How to Get a Loan at 18 in Arizona

There are many ways you can qualify for loans for 18-year-olds with no credit history. Here are some tips that you can use if you are looking for a loan.

Getting qualified for a loan is difficult as it is, but it’s twice as hard when you don’t have a credit history, to begin with. It is credit history that money lenders check to determine if will be able to make repayments or not. If you don’t have any credit history, it will be hard to acquire a loan. However, there are many ways you can qualify for loans for 18-year-olds with no credit history. Follow these tips if you are an 18-year-old who is looking for a loan:

Student Loan

The very first option that you can opt for is student loans. If you are 18 years old and a student you can apply for student loans which come in two kinds: tuition loans and maintenance loans. Usually, student loans also come with the lowest interest rate, which makes it easier to pay back. If you’re searching for a loan to pay for your education, you can apply for a tuition loan which will be paid straight to your university. A maintenance loan pays you at the start of each term. When you start working, that money will start deducting from your paychecks each month until you have paid it off.

Small Personal Loans

Another way that 18-year-olds can get a loan is by using loans with no credit check. Usually, you will have to provide your work history and reliable income background so that the lender is ensured you will pay off the debt. At this point, the lender will calculate DTI, which is the debt-to-income ratio to see how many monthly payments it will take for you to pay off the debt. If the debt is small and you have a source of income, you are more likely to be approved for the loan even if you lack a credit history.

Career Development Loans

If you are still in the confusion of how to get a loan at 18, you can also consider the career development loan. This type of loan is applied to two years of postgraduate studies, and the government pays for the interest rate during your period of education. You can use the given money on any personal expenses, which broaden your prospects and allows you to support your business if you have any. However, one month after you finish your course, you are supposed to start paying back the loan. If you quit your education somewhere in between, you will have to pay the full amount without any time concession. If you choose a career development loan, be sure that you understand all the terms and conditions thoroughly before applying.

Secured Credit Cards

Another option for 18-year-old people with no credit history is to sign up for a secured credit card which does not ask for credit history. This is another option that does not involve any activity on your parents’ behalf. If you fail to make a payment, your parents will not be forced to do it for you. Secured credit cards will also inform the credit bureau of your positive activity, which will eventually build up your credit history. These cards provide you some backbone when you look for a loan for something huge like a car or a house.

Title Loans

Another way that you can get a loan is to consider title loans in Arizona, which are another option for people without a credit history. You’ll need a car, though, but the good thing about registration loans is that they neither look for a consumer report nor parental approval. However, they do look for your source of income, and if you fail to pay it back, they can repossess your vehicle. If you’re sure that you can afford it, and you need a loan now, then you can look further.

Car Loans

An 18-year-old people with no credit history might find it challenging to establish the start of their independent life. However, young people need not be disappointed as there are still many ways for them to qualify for loans. If you don’t have bad credit or no credit history, you can always apply for a car loan.

Make sure that you look for an affordable vehicle so you can pay the high-interest rate that compensates for the lack of credit history. However, you spend more each month rather than paying low for too many as it will keep adding to the interest rate. Opt for 2 or 4 years of a monthly payment, so you are free from the loan as soon as possible.


There are other ways to be able to afford a living rather than getting a loan from a bank. For instance, instead of looking for a loan, get a part-time job so that you can save up and afford to move out or buy a car. You can also ask your family or friends to lend you money until you can pay them back. You should start saving money and purchase things without getting a debt. However, if you need a more significant debt, then you can always opt for options that are mentioned above.

There are many loans for 18-year-olds living in Arizona who don’t have a credit history but need a loan. It is advised that no matter what kind of loan you apply for you to consider its details and make sure that you will be able to pay it back on time. Otherwise, it will dent your credit history, making it difficult to get a loan in the future. You can always ask for an adult or a financial counselor to guide you through all the options and how you can arrange your finances without landing yourself in an economic rut.

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.