Those who are need of extra funds for school can use borrowed money for their educations. The federal government has programs in place that allow people to get more education. Stafford loans are guaranteed by the federal government, so as long as you have need, you can get them. They are available if you have poor credit history, or even if you don't have a job.
With Stafford loans, there is a set amount of money that you can borrow. While this increases each year, it isn't enough for every student. If you go to an expensive college or university, Stafford loans may not provide enough resources for you. If this is the case for you, you may need to turn to private student loans.
Getting a private student loan won't be too difficult for those of you that have good credit. Those of you that have bad credit may find this process to be very difficult. Private loans will likely cost more in interest than federally guaranteed loans, but don't worry, investing in education is always a wise decision.
For those of you that have poor credit histories, getting a private loan will be more difficult. Lenders will rightfully see you as a decently large risk. Since students don't have income anyway, they will question your ability to repay the loan.
Those who can't get any more money in Stafford loans often take a look at private loans. Unfortunately, if you have bad credit this is going to be pretty difficult. Banks won't take a risk on your if you haven't paid your bills in the past. If you have bad credit, your best option is to get a cosigner that has better and more established credit.
Getting a cosigner will make it so the bank doesn't have to take such a big risk to loan you money. This can also help you to get a better interest rate, even if you can qualify by yourself.
Your parents are probably the best people to ask to cosign on your loan. If they say no, you can ask other family members and friends. If you can get someone to say yes, you'll have your student loan.
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