Getting a school loan with really bad credit score is going to be hard – so the only way would be to get a cosigner who has a good source of income and has also been employed for a longer time – because some lenders tend to reject the loan application if the cosigner has an unreliable income or just a temporary job.Moreover remember that the stafford loans do no require the credit requirements.So these are the perfect no credit requirement student loans but with flaws !! – yes,the flaw associate with these loans is that you may not be able to fund everything with these loans.Expenses for tuition,room etc,. – all these cannot be met with just a stafford loan.You would require something else to supplement it.
Other options for people with really bad credit score:
Here are some more options for you to finance your education:
1.federal grants,
3.private grants,
4.scholarships,
5.FAFSA.
6.Pell grants would be a great solution for you.
Private student loans:
Getting the private student loans would be the best option since many major lenders are not giving approval for the student loans at a fast rate.But remember that these loans wouldn’t have a low rate like the federal loans.You are sure to get these loans at high rate.
private student loans without cosigner?:
Finding the student loans without cosigner will be easy for graduate students but for others,it is going to be tough.The credit has to be good if you want to qualify.Else you can ask your parent to cosign along with you.Whoever cosigns for you,would be expected to have a good reliable income – sometimes chances exist that borrowers would be rejected because of unreliable income of the cosigner.
