Looking for a Bad Credit Student Loan? The good news is you can get a student loan if you have a bad credit rating. This is because federal funding is specifically designed for getting people who want to study into education, regardless of their financial situation. For this intuit the requirements to get a loan are a lot more flexible than your typical financial institution.
The most beloved American Student Loan - the Stafford Loan, assumes that most loan applicants will be going from high school and then straight into college and will therefore not have a credit rating at all. It is a fact that Stafford loan do not even check your credit rating - this is the same for the Perkins Loans (for people with ultimate financial difficulties).
A Bad credit student Loan - Can You Get a student Loan With Bad Credit?
However there are two factors that will follow your ability to secure a federal student loan 1. You have not applied for and defaulted on a Student Loan in the past. 2. You do not have a criminal record. (Even if you do there are counseling services available and pathways to still get credit). If you are not going for a Federal Student loan, or have one but need another Student Loan then you may be finding for a hidden Student Loan Supplement or a Student Loan Consolidation. These types of loan are done by non-government financial institutions or hidden institutions and do have tighter controls on lending credit, however you can still secure these type of loans if you have bad credit.
No comments:
Post a Comment