It's very possible to get student loans for students with bad credit. But if you have bad credit, your choices of student loan lender are going to be limited.
If you have poor credit, your best source of loan funding will be from the federal government. The government has several loan programs that will grant students the funding they need. These programs are the Stafford loan program, Perkins loan program, and the Pell Grant.
Now, the Stafford loan is given to students on the basis of financial need. Students with very poor credit can qualify for this loan. The federal government requires parents to contribute part of the funding and will take this into account when calculating how much money to give to each student.
Another student loan for student with very poor credit is the Perkins loan. This is a loan offered to students who face financial difficulty. The maximum loan amount distributed each year is 4k.
The Pell Grant is a source of funding every student should consider. It's a grant, so the money does not need to be repaid.
Now, thee above is all part of the federal student aid package. If these do not provide students with enough money to pay for college, then students will have to seed out private student loan funding. It's difficult to get private student loans with bad credit however. Your best bet is to look online for student loan lenders who may give bad credit loans. However, the interest rate will likely be high.
If you are looking for loans for bad credit students, your best bet is to seek out federal student loan aid. If you can't secure federal aid, then you will have to look for private lenders that offer student loans with no credit.
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