Fed Financial

Student loans for adult students with bad credit?

Well, I'm in a two-year degree program at the local community college, but need to take out a student loan for a computer and books. I'm 20 years old, married, and unemployed at the time (seven and a half months pregnant). My husband is only 19, and hasn't been at his job for longer than three months (although he's been consistently employed for the past year and a half). Parents as cosigners is not an option- so any advice? Well, I got a grant, but it's simply not enough. Thanks for the suggestions- I'll definately check them out!

Public Comments

1. fill out a fasfa and see what they can help you with. I'm 30 years old and this is my first year going to community college also, and I got plenty of financial aide through fasfa.
2. Assuming Stafford is not an option (definitely check there first, your school will tell you what you qualify for after you submit FAFSA)...Try Chase. My dad has bad credit (cosigner) but they accepted us there anyway when no one else would.
3. Just like the other person said. Fill out a FAFSA. Perhaps you can get a grant. Also you can check the box that asks if you would like loans as well. These loans do not require a credit check. Private loans do require a credit check though.
4. Fafsa is a good idea but you probably wouldn't get money for this school year since you can start applying for Fafsa in January. You will just have to try different private loans or talk to the financial aid office at your school for options.
5. Students who are looking for a bad credit student loan should pick three schools they are most interested in, talk to the admissions office, and ask what is needed to apply in their school.A bad credit<!--student loan is payable only after the student has completed his or her education, and has started earning a certain minimum amount. You can find more information on Student Loan here, http://badcredits.awardspace.com/student-loans.htm The minimum amount that the candidate of the bad credit student loan is required to earn has also increased. Bad credit student loans are available as both secured and unsecured loans-->depending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.
6. You need to apply for Stafford Loans subsidized or unsubsidized, either would be better than a private loan. I don't recall they require cosigners. Here is the link regarding min and maximum loan amounts. You prob just need to talk to the fin aid office and tell them you want one or to increase the loan you have. I wouldn't go through CHASE or a private lender, interest rates will be higher and fees will be more.