Wednesday, February 11, 2009

Student Loans For Bad Credit

One of the easiest types of loans that you can get if you have bad credit is student loans. The federal government seems to have created some brilliant programs and they will help you to get a loan for education even if your credit score is absolutely terrible. In fact, credit isn't part of the approval process for many different student loans.

Stafford loans are available for almost anyone, as long as you can't afford college. Some types of Stafford loans aren't available for people that could pay for their own educations, but if you can't you can probably get these loans. The only people that struggle to get Stafford loans are people that already have money.

Perkins loans are quite a bit like Stafford loans and you can probably get them if you're dead broke.

Additionally, Pell Grants are a great option and they don't even have to be paid back.

If you need private loans and you have bad credit, you may have a hard time. You will probably need a cosigner since this would be a significant risk for a lender.

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