If you find that the job market today isn’t very kind to people who haven’t good college degrees to flaunt on their resume, you’ll probably think of going back to school at some point – to earn a college degree. Of course, if you are in this kind of position, you’re really going to need student loan help with those tuition costs. If you’re in this kind of position, it’s also likely that your credit history is, let’s say, a touch less than stellar. Is a bad credit student loan in your future?
A bad credit student loan should be the first thing you’d think of when you’re in this position. But not until you have been unsuccessful with every other option should you think of this. When you have poor credit, you need to first think of government-sponsored student loans that don’t even require a credit history of any kind. The Perkins loan and the Stafford loan are what you need to be thinking of.
Take the Stafford loan for instance. It’s the most widely-used student loan in the country and it doesn’t even ask for a credit score. Both subsidized and unsubsidized loans are freely available to applicants of every description – whether or not they are able to prove that they are financially able to take care of the financial requirements of a college course.
Still, one does need to be aware that the Stafford loan isn’t that generous; it can only take care of a small portion of your college expenses. For those who are the most financially needy, a Perkins loan can make for a great bad credit student loan.
One great way of coming by a great bad credit student debt loan without having to jump through hoops would be to head for a college course that would prepare you for an area of work that the government recognizes as chronically shorthanded. A college course for a career in the health sciences for instance, would be easy to get a student loan for – without a credit check.
If after you’ve searched through and taken advantage of all of the above, you should still find that you need an actual bad credit student loan, this should be really difficult. Not without a cosigner in the form of a parent or relative for anyone else would you qualify.
Usually, if you can’t find a cosigner, your only other viable option would be to hold off and work hard at fixing your credit.