Private student loan programs generally issue loans based on the credit history of the applicant and any applicable cosigner, co-endorser or coborrower. In contrast, federal loan programs deal primarily with need-based criteria, as defined by the EFC and the FAFSA. Students may find that their families have too much income or too many assets to qualify for federal aid, but lack sufficient assets and income to pay for school without assistance. Most students will need a cosigner in order to obtain a private student loan.