- Student Finances
- Student Loans
- Specialty Scholarships
However, with the easy availability of some very interesting and important student loans, even the students with bad credit can afford a college education. There are several student loan options that have nothing to do with your credit history and provide you financial aid regardless of your bad credit.
Some such student loan facilities are listed here:
- Stafford Loan : This is one loan every student must apply for irrespective of a good or bad credit record. While the subsidized Stafford Loan is exclusively for the financially needy students, the unsubsidized Stafford Loan is open for all types of students. The only disadvantage with Stafford Loans is that, the amount awarded is meager.
- Perkins Loans-Credit-free Campus Based Aid : Another non-credit based loan is the Perkins Loan which serves both graduate as well as undergraduate students. This loan provides financial support only to those who are in dire need of it through loan awards between $1,000 and $4,000 each year.
- State Student Loans : Quite often, the state governments partner with student loan providers, thereby providing better federal and private loan facilities for students. You just need to find out if your state extends any such state-based federal loans for the students.
- Loans for Disadvantaged Students : Financially disadvantaged students seeking degrees in the field of health sciences can apply for this low interest, non-credit based 'Loans for Disadvantaged Students Program', sponsored by the Department of Health and Human Services. However, you are required to apply only through the financial aid office of the participating school.
- Loan Consolidation : The last thing you would like to have when already facing a bad credit record would be to go through a similar sitauation again. In such a case, it is advisable to go for consolidate student loans as most lenders encourage this. The best consolidate loan option available is the Federal Loan Consolidate Program, which allows you to roll your federal student loans into one, low monthly payment. Here also there is no credit check to consolidate with the federal loan.