-
Apply for federal financial aid. The government loans work with students that have bad credit. The interest rates on these loans are significantly lower than other financial alternatives. Through FAFSA (Free Application for Federal Student Aid), you can receive a student loan with bad credit.
Apply for the Stafford Loan through the FAFSA program. There is no credit check for this type of loan. You qualify for a loan without having to be a dependent of your parents. The amount you receive from the Stafford loan is based on your current income level as a dependent or independent. The amount given to independent students is usually significantly higher. Each school year, you must reapply for the Stafford Loan. - A bill consolidation loan is a way to get a student loan with bad credit. Visit several financial lending services. Talk to them about interest rates and current bills. Ask about consolidating your current bills and adding on a college student loan. Bill consolidation services will often work with students to give a college student loan and consolidate current bills. The advantage is being able to pay all the bills, including the loan, in one monthly payment. Students rebuild their credit while in college. The amounts available for this type of loan varies on the different companies, current market interest rate and credit score. Check to make certain there is no penalty for paying off the loan early. Pay slightly higher each month on the loan before the due date to decrease the principle amount. You can refinance the loan after college for a lower interest rate.
- A personal bank loan is a place to get a student loan with bad credit. Ask someone in your family or a friend to go with you as a co-signer, to apply for the loan. The co-signer needs good credit. You or the co-signer needs a tangible item for collateral, such as a car. Interest rates for personal bank loans for college money are typically lower than the interest rate received on bill consolidation loans. Go to the co-signer's banking institution or your banking institution to apply for a small personal bank loan. Ask to speak with the loan officer about a small personal loan for college.
Comments
henrymikelsen said
on 12/19/2009 While I was looking for free credit report a friend of mine told me that i can get free credit report.I though to share this great company here.They also offer credit monitoring, credit fraud alerts, and many more.
Here is the link.
http://www.EliteCreditReport.Info