When it comes time for you to start college, you really do not want your bad credit to get in the way. The good news, too, is that it does not have to. You still have access to a number of loans – and at reasonable rates. Here is some information to tell you about what kind of student loans are available to you.
One thing that should help you to relax some is that a number of available college loans from the government do not even look at your credit rating. They tend to make the assumption that applicants are fresh out of high school and have not had any time to even think about their credit rating – let alone build a decent one. One of these is the Stafford loan, which allows anyone to apply.
The Stafford loans come in two different types – subsidized and unsubsidized. The subsidized version of this loan is based entirely on the need the student has for that year. If you get the loan, you must also apply each year that you need the benefits. One nice thing about this loan is that it pays your interest while you are in school. The unsubsidized version is available to any student – regardless of your need.
Another Federal loan that...
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