Student Loans. do they check your credit?

I need to get a student loan to go back to school but my credit is not very good, so can you still get them even if you have bad credit if you have a co signer? or is it alot harder or impossible to get one?

Student Loans. do they check your credit?

The federal Stafford loan does not require a credit check and is the most widely used type of student loan out there. It was originally created because students typically have not had a chance to develop a credit history.

Private student loans are not guaranteed by the government, so they typically require a credit check. Parent and grad PLUS loans also require a credit check, although they have relatively high approval rates.

Applying for federal financial aid (including the Stafford loan) starts by filling out your FAFSA (www.fafsa.ed.gov). They will look at your financial situation and decide how much aid you are eligible for. Almost everyone qualifies for the Stafford loan. You also want to make sure you're applying for every possible scholarship during this time.

Good luck!

Student Loans. do they check your credit?

With a co signer it should not be a problem.

Secondly, you need to deal with why you have bad credit. If you start paying what you owe or even make SOME arrangement, even if it is only 5 bucks a month, it will clean up your credit.

Some loans will be harder, some will not. It depends on the type of loan.

Student Loans. do they check your credit?

You can get one with bad credit. No one would ever go to grad school if you couldn't. Also, you can get one even after declaring bankruptcy.

Student Loans. do they check your credit?

Student loans eligibility does not use a FICO score or review your credit report. The only thing that would prevent your obtaining a student loan is if:

You are convicted of a drug crime

Owe the IRS or any other government agency

Enrolling in school less than half time

However, any funds over the allotted yearly amount available in the Federal Student Loan Program, known as private loans, do use your credit rating.

Student Loans. do they check your credit?

Federal Student loans do not require a credit check for you to get them. But you can be defaulted on any previous loans. You also are not required to have a cosigner. Here is a good publication on loans and the best types to have.

Student Loans. do they check your credit?

Some student loans are possible without co-signer

there are private loans with very low interest.

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