Never let financial restraints keep you from getting a quality education. Even if your credit is bad you still can afford going to college. Consider getting a co-signer. A family member with good credit can help you get loans with favorable rates and terms, despite your bad credit. I’ve also found some loan options that have nothing to do with your existing credit.
The federal Stafford Loan comes in two types – subsidized and unsubsidized. Credit doesn’t matter with the Stafford loan. The subsidized Stafford Loan is awarded to financially needy students. If you qualify, the federal government pays the loan interest due every month while you’re in school and for the six-month grace period between graduation and repayment.
Ultimately keeping you credit card safe is you responsibility. Indeed in a worst case scenario if it can be proven you may have been negligent in keeping your credit card safe you may find yourself liable for the cost of all transactions made fraudulent on your account should you lose the card. To help you avoid this here are 5 basic credit card safety tips:
Never have more cards than you need
While it is always advisable that you have more than 1 credit card in case it gets lost you should never have more credit cards than you actually need to use.
The unsubsidized Stafford Loan is available to every student, regardless of need. Another advantage to the Stafford Loan you can reapply every school year!
Perkins Loans
The federal Perkins Loan is another solution for poor credit borrowers. This is another government subsidized student loan that requires no credit check. Perkins loans are available for both undergraduate and graduate students. Typical loan awards are between $1,000 and $4,000 for each school year, not to exceed $20,000 total.
Maybe you are pursuing a degree in one of the health science fields, such as medicine or nursing. There are student loans specifically designed for health science students that are completely credit-free!
The Department of Health and Human Services sponsors the Loans for Disadvantaged Students program, a low-interest, and non-credit based loan, available to socially and/or financially disadvantaged students seeking degrees in approved areas of the health sciences profession. You are required to apply for the Loans for Disadvantaged Students program through the financial aid office of the participating school.
The Nursing Student Loan program provides up to $4,000 per school year to qualifying nursing school students. Loans are low-interest and come with a grace period of 9 months. Recipients must be enrolled at least half-time in an approved nursing program and prove adequate financial need.
The Primary Care Loan program is designed to provide auxiliary, non-credit based student loans to those pursuing medical degrees with a focus on primary care. Loans feature a grace period of 12 months. One of the requirements is that the recipient must remain practicing primary care for the duration of loan repayment.
Now my favorite one the federal Pell Grant. The great thing of a Pell Grant is that disbursed funds do not require repayment, they are a gift. Also nearly every state government offers scholarship and grant money.