Fed Financial
i dont have good credit, and would like to know if and where i can get student financial aid or loans?
private lenders
Public Comments
- Student loans are not based on your credit. They are based on you or your parents income. If you are under the age of 23 then it will be based on your parents income. You must apply for financial aid. Then you must choose from a list of banks to borrow the money from. When you apply and are accepted for financial aid, the government basically guarantees the loans. You should consider applying for grants such as the Pell grant. And always choose Subsidized loans because the government will pay the interest while you're in school.
- Still apply for financial aid you may qualify for grants and if you do not qualify for any federal loans, there are always private loans, try Sallie Mae first and go from there usually when you apply for aid they will give you a list of sources to try.
- I had some serious credit issues when I went back to college. FAFSA was able to help with grants. I obtained two loans that are not dependent on credit. These were both Stafford loans. Stafford Loan rates are lower than other forms of consumer financing, and repayment is postponed until you are out of school. Stafford loans are available as subsidized (need-based) or unsubsidized (non-need-based) student loans. If scholarships, grants, work-study and/or Federal student loans programs don't cover the entire amount of education expenses, an OSL Private Loan is an excellent alternative to conventional consumer or bank loans. OSL Private Loans also called "alternative loans" or "non-Federal student loans," private loans are education loans that are not guaranteed by the Federal government. However, the lending limits are higher than Federal student loans, which can help complete your financial aid portfolio. Also a consideration are Federal Perkins Loans. These loans are made through the college or school the student is attending. The loan is funded partially by the government. It is typically a low-interest loan (around 5%), with repayments made to the school. Perkins loans share many of the characteristics of subsidized Stafford loans. The most notable differences are no fees and a longer grace period. Often employers are willing to help with tuition reimbursements. Best of luck to you.
