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I Need a College Loan to Help Through School - I Have Very Bad Credit

By Edited Jun 15, 2016 2 1

I need a college loan to help through school but I have very bad credit. Does this sound familiar to you? If so, you should know that you still have some great options available to help you get an education and still afford to live life while you complete your degree. Many are surprised to learn they can still get financial aid even if they have a really poor score. In fact, the federal government will most likely back your application for financial aid no matter how poor your score is. This can make it easier when you need a college loan to help through school but have very bad credit. There are some other private lenders you may wish to consider, and some other alternatives.

Cosigners

The easiest way to get a college loan when you need one to get through school, even when you have very bad credit, is to get someone with a good score to cosign for you. You will be able to borrow money for your education this way, which could help you complete your degree. This will give you a chance to make some real money, since you will have a degree to help land the good jobs. When you need a college loan to help through school, but have very bad credit, the simplest thing to do is get a cosigner. There are still ways to borrow money for school when your parents won't help you out. Even if you have bad credit, you can often still get a college loan and attend school.

FAFSA

 

Fill out the forms when you need a college loan to get through school, but have very bad credit. This is the standard financial aid process many use when looking to borrow money to get a degree. While it may not work for everyone, there are plenty of additional options to consider. If you find yourself saying, I need a college loan to help through school, but I have very bad credit, this is still the first place to look and see where you stand.

Stafford:

If you need money to get through school, but have very bad credit a college Stafford loan may be right for you. With this program your score is not even considered. These types of programs will make borrowing money much easier for many people looking to get an education. Since many people attend universities right after senior high, it only makes sense that score is not a consideration, since most would not have established any yet. If you need a college loan to get through school but have very bad credit, I would suggest looking into the Stafford program. Unfortunately, the amounts of money you can borrow with these programs is very limited, often not quite enough to cover tuition. Still, it can be used in conjunction with some of the other programs.  If you don't get enough to cover your needs, check out sample financial aid appeal letters to see if you can increase the amount of assistance you get.

Perkins:

Perkins loans are designed for those that are needy. If you need a college loan to get through school, but you have very bad credit, it may be worth checking out. This can be a great option when you need to borrow money for college and get through school, but you have very bad credit. Since your score is not taken into consideration, you will not be disqualified for having a poor score. This can be a really great way to go for those in need. Financial restrictions will apply for Perkins Loans. When you need to borrow money for college, but have very bad credit, I would suggest checking out the Perkins programs. Financial need guidelines are determined by the US Department of Education. Be sure to familiarize yourself with the guidelines when you need a college loan to get through school, but have very bad credit.

Private Lenders:

If you need a college loan to help get through school, but have very bad credit, there may actually be some great private lenders out there looking to give you a hand. It's important to realize that financial aid may be available by simply contacting your school. When you need a college loan to help get through school, but have very bad credit, you may actually be looking to borrow money for living expenses, not books and tuition. If this is the case, you have some additional options to consider.

Traditional Lenders:

I need a college loan to help get through school, but I have very bad credit. If this sounds like the situation you are facing, you may actually need to borrow money to cover living expenses. Traditional lenders are a great place to look, but they are not the only place. While freestanding banks often offer the best rates and most secure transactions, online lenders can be a great place to consider when you need a college loan to help get through school, but have very bad credit. Try to borrow only the minimum amount you need to get by. Be sure you can afford to make the payments when you borrow money this way, since failing to do so will only make your score even worse.

Check Your Policy Manual At Work

Many are surprised they can get free money for education through their employers. If you are saying to yourself, I need a college loan to help get through school – I have very bad credit, this could be something to look at. Many employers offer at least some form of tuition reimbursement, especially if the field you are studying is related in any way to the company you are working for. Many employers don't advertise it, but do offer it. I need a college loan to help get through school, but I have very bad credit! You may have a viable option at your place of work.

Contact Your Local Government Agency

When you need a college loan to get through school, but have very bad credit, I would suggest making a simple call to your local courthouse. Many people can qualify for various programs to assist in getting finished with their education. Some of the programs may not be directly related to education, but will help students get by. Since few make any real money while attending a university, many people can qualify for some form of financial aid. If you are saying, I need a college loan to get through school, but I have very bad credit, you may be able to get some assistance. I would suggest trying anything you can to finish up your education.

If all else fails, explore ways to earn a degree for pennies on the dollar. While you're at it, be sure to take advantage of all cost saving options, like super cheap textbooks.

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Comments

Oct 18, 2012 2:12am
susanmiller2012
This comment has been deleted.
Mar 28, 2013 4:51am
Knighttrader
This is really useful advice, when I was at university I really struggled to make ends meet and I hope the students who need help most can read this and then find the best loan so that they can study without having to worry about money.

Excellent Advice, Thank You & Thumbs Up.
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