How To Get Student Loans Regardless Of Your Credit

How To Get Student Loans Regardless Of Your Credit

by Tim Croy

If you are a student that has bad credit, you should know that there are options available to you in order to get the education you deserve. There are a plethora of financial institutions and banks that recognize that students aren't suppose to have great credit, and offer loans for students that have bad credit or no credit at all. If you're a student in need of financial aid, but suffer from bad credit, here are some tips that can help you get a loan that fits your needs. refinancing student loans

* Before applying for bad credit loans that may have high interest rates, ask a friend or family member with good credit to co-sign for you. However, before signing they should be aware of the risks involved with co-signing. refinancing student loans

* Visit a bank that you have a checking or savings account with. If you have a good standing with them, often times they will lend you money for tuition regardless of your credit standing. You may also contact small banks or credit unions that you don't have ties with, however they may offer you high interest loans that may not appeal to you.

* A combination loan that consolidates your debt is also an option. These loans usually have favorable terms, but may require a co-signer. refinancing student loans

* Visit the FAFSA website and fill out the application. Any undergraduate or graduate student is entitled to government grants and federally sponsored loans. The Stafford and Perkins loans are offered through FAFSA or your financial aid department at your university. Both loans offer low interest loans, with outstanding terms and conditions. Best of all, they offer this regardless of your credit worthiness.

* Browse the internet for deals. Often times you can find great incentive deals aimed at struggling students with poor credit. Using the power of the net, you can efficiently find and compare the best student loan to fit your individual needs. Be very careful of private institutions that trick you into getting a high interest loan. These loans can be disguised by rewards, gifts, or extremely low monthly payments. refinancing student loans

* If you happen to be in a health major you can apply for a health related loan, such as the Nursing Student Loan Program, or the Primary Care Loan Program. These loans are low interest offers that don't require a credit check. The Nursing Student Loan Program offers up to $4,000 per school year with a 9 month grace period for nursing students that qualify. The Primary Care Loan Program is a non-credit based loan for those pursuing medical degrees. This loan offers a much greater amount per year with a 12 month grace period.

As you can see there are a number of funding options for students regardless of their credit rating. As always, read the terms and conditions before applying for a new loan. There are many organizations that can scam you into a high interest, high fee loan that can take a very long time to pay off. Be smart and manage your debt wisely.