Student Loans For People With Bad Credit

by Greg Secrist

Student Loan Tips There are some tricks of the trade to help you get qualified for a student loan even if you don't have good credit. Use these tips to avoid letting loan guidelines keep you from a bright future.

We are all prideful and want to do things ourselves, but using a co-signor can help 80% of student loan applicants approve if they were turned down previously. Snuggle up to the grandparents or that rich uncle of yours, its worth it! Talk to several banks and meet with their loan officers. Explain to them your situation in person so that they can feel good about lending to you. Most of these banks will still lend to you if you have bad credit, but at a higher interest rate. The point is that a loan can still be obtained if you personally meet with a loan officer. Combination loans are great solutions. a combination loan consolidates existing debt while applying for a new tuition loan. In this type of loan situation it would be very wise to also use a co-signor to make sure you get a good low rate on the new tuition loan and consolidation loan. FAFSA is another great option. This taps into the Perkins or Stafford Loans. This is FREE money that is available to new and existing students and can be worked through your school's administration office.

Student Loan Warnings With all the advertisements out there for student loans, here are a few warnings to watch for while applying and researching student loan options.

NEVER put tuition on a credit card. Make this a last resort if all other options fail and even then, you probably should still never do this. Credit card rates are insanely high and you will make a high payment for that tuition for a long long time and will cost you 5 times of what the initial price of the tuition was. Student loans DO NOT help your credit while you are in school. They will start to help your credit score once you start repaying the loan which typically happens once you have graduated. Don't get sucked into a student loan program thinking your credit score will be magically fixed the second the loan gets approved. Make sure you research private student loans as their rates are often much higher than FAFSA loans. If you have to go the private route just make sure you pick the lender with the lowest student loan rates.

About the Author

Greg writes articles about Student Loans For People With Bad Credit and for Bad Credit Student Loans