Even though your credit may not be great, there are options to get student loans for people with bad credit.
The US Department of Education has student loans for people with bad credit programs available such as the Stafford loan and Perkin Loan. Both of these loans do not even consider the credit rating a
factor when it comes to qualifications. The only reason bad credit would effect these types of student loans are if you have defaulted on a federally granted student loan in the past.
If you are looking for a private student loan with bad credit or no credit you may want to try Think Financial. They offer student loans from $1500 to $40,000. Your chances of being approved for a
Think student loan improve if you apply with a qualified co-signer. And a co-signer with excellent credit can even help you secure a reduced interest rate and loan fees. If you would like to apply
without a co-signer, you must meet the following four key criteria.
- Two years continuous income
- Two years continuous employment
- At least one year at your current and immediately preceding addresses
- At least 21 months of satisfactory credit history
Some people think their credit is really bad, but in some cases it may not be as bad as one would thought.