Personal student loans are also known as private loans. These loans are being offered by many private banks. In today's tough economy, students often find it difficult to pay for higher education and earn a degree. In such cases, students often resort to loans and similar financial aid resources. One of the greatest features of personal loans no credit check is that students do not have to worry about their credit history for eligibility. These loans may carry a higher rate of interest but are still beneficial in a number of ways as they allow students to pay for tuition, books, and even boarding.