Can a student with bad credit get a student loan?
On One Hand: Federal Loans Are AvailableYou can obtain student loans with a bad credit score. Federal Stafford and Perkins loans are available without regard to credit history. You must demonstrate financial need to be eligible for those loans, except for the unsubsidized Stafford loan. The federal PLUS loan is available to students who have a bad credit score, as long as they do not have an adverse credit history (being more than 90 days late on debt or having Title IV debt).On the Other: Private Loans Will Charge MoreIf you cannot cover the entire cost of your education with federal loans, you may have to turn to private loans. Private loans for students with bad credit can usually be found, but the interest rates tend to be much higher.Bottom LineIf you want to go back to school and need financial aid, you should be able to acquire it even with bad credit. Fill out a FAFSA application to see if you are eligible for federal loans, and talk to the financial adviser at your school to s
Yes, the students with bad credit can also get student loans; they can apply for bad credit student loans. It is a kind of loan program which offers loans without credit check formalities. Under this loan program you can get the money even if you are a bad creditors and hence can complete your studies without facing any financial worries.
