Bad Credit Student Loan
If you are concerned that bad credit will prevent you from going to college you have to know that unfortunately it is true that finding student loans with excellent interest rates is easier if you have a sterling credit rating, bad credit student loan aid is possible. Bad credit student loans are also possible if your parents have better credit than you do.
Keep in mind that federal funding is a good choice for a bad credit student loan because they are specifically designed to help make college more accessible; therefore, their requirements are much looser than those of most banks and other lending companies. However, if you are unable to secure a US Department of Education student loan, you may need to turn to private loans.
If you are planning to graduate in a field with high earnings potential, like law or medicine, you might have a better chance of receiving a bad credit student loan from private lenders. You have to realize that none of these choices are either/or possibilities. You may be able to put together enough money to finance college through a combination of any or all of the above types of loans. Also, even if your bad credit student loan is at a very high interest rate, all is not lost. You have to realize that many student loans defer payment until you have finished college that gives you time to improve your credit rating. Also, you should look into ways to consolidate your student loan at a better rate, lowering your payments to a more affordable level.
http://www.Justurbanlife.com is your source for credit. You can obtain loans, mortgages, credit cards, cash advances, even if you have a poor credit score. http://www.justurbanlife.com is also perfect for you if have a good credit score.
Article Source: http://EzineArticles.com/?expert=Donny_Lowy
No comments:
Post a Comment