Student Loans For Bad Credit: Where to go?

Can you get Student Loans For Bad Credit?

Student Loans For Bad Credit

Student loans are an important part of any student’s life because not only do they help them to get the education they want but also help along with the purchase of books and other stuff such as laptops or computers. Getting through your university life without the need of a student loan is truly a miracle because the education nowadays has become so expensive that getting this loan somehow becomes inevitable. However, there is also a case when a student has a bad credit to his or her name and then they become heartless because they think they will not be able to get a student loan when this is actually not the case. You can get Student Loans For Bad Credit now and the process is extremely easy too.

What options do students have when they have bad credit?

There are several options that students can go to when they have bad credit but still want to get a student loan for themselves. If you are an undergraduate student, you can turn to the following options for help.

  • Direct subsidized loans: These are loans that you get at fixed rates and you can get around a few thousand dollars with this loan. The government pays your interest suring the period that you are studying in school.
  • Direct unsubsidized loans: With this loan, you can get some thousand dollars over the amount that you get with direct subsidized loans. However, the interest is to be paid by the student even if you are a dependent student.
  • Perkins loans: This loan is also a fixed rate loan and can be used by undergraduate students. These loans are usually funded by participating colleges instead of the government. 
Student Loans For Bad Credit

If you are a graduate student, you can consider the following options for help.

  • Direct unsubsidized loans: With these loans. you can borrow upto $20,000 with lower interest rates too.
  • Direct PLUS loans: If you have exhausted the limit of your direct unsubsidized loans, you can turn towards direct PLUS loans. Although, for getting this loan, it will be greatly helpful that you have a co signer with you who has good credit and this will help you with getting a lower rate.

Whichever student loan that you choose, you must always make sure that you have compared their interest rates and then reached upon a final decision.

MORE FROM THIS SECTION


on Twitter, 'LIKE' us on Facebook

Comments are closed.