Welcome to Student Loans Guide
Student Loans No Credit History Required Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Even With Bad Credit Student Loans Are Still Possible
from:Even for students with bad credit, student loans are still a very real option to get the funding needed to attend two and four year college and university programs as well as to attend specific trade school courses. Since credit scores are often used in determining funding levels for students, it is often assumed with a prior money management problem leading to bad credit, student loans are out of the question. Even with thin credit, which is not the same as bad credit, student loans can be a problem if you are going through a private loan agency or company.
The way to handled problems such as bad credit, student loans with a thin credit or no credit history, is to research and investigate student loan options that are not based on credit scores. There are many different federal student loans that are either subsidized or unsubsidized and are offered by the federal government with no ties to your credit score for eligibility. These loan programs include Stafford Loans and Perkins loans but may also include scholarships, Pell grants and other private grants and bursary programs.
Stafford loans are one of the most common bad credit student loans that can actual prevent students from having to pay interest on the loan provide they qualify for a subsidized loan. Students will still have to pay of the principle or total amount of the loan but provided they follow the payment plan the government will not charge any interest. These subsidized loans are granted based on the student's resources and financial ability to pay back the loan. Students must graduate and will have 6 months in which to start earning a living after graduation before payments start. If students drop down to a part time student or drop out of school the payment process is not deferred as long and interest may be charged.
Perkins loans are another option for bad credit student loans that are subsidized and can be applied for each year. With both Stafford and Perkins loans the amount of the loan is capped, and will not typically be more than $5000 per year, even in senior years. The total amount borrowed under the Perkins loan program cannot exceed $20, 000 per student in total over all education years.
For students with bad credit, student loans through private loaners and companies are likely not an option. Be vary cautious in taking on these loans as they often have very high interest rates, poor payment plans and extremely high penalties. If at all possible students with poor credit should work on rebuilding their credit scores through timely repayment of a federal government loan and displaying credit worthiness before trying to apply for private school loans.
Student Loans No Credit History Required News
Fitch: Fixed Rate-Private Student Loans Could Spur Growth - MarketWatch (press release)
Fitch: Fixed Rate-Private Student Loans Could Spur Growth MarketWatch (press release) ... from 5.75% to 12.875% based on credit history and underwriting standards and no origination fees. On Monday, Discover Financial Services said it would begin offering private student loans with a fixed rate starting at 6.79% and no origination fees. |
Job No. 1 after college: Establish credit history - Chicago Tribune
 New York Daily News | Job No. 1 after college: Establish credit history Chicago Tribune Here are ideas on how to establish a credit history. Open a card The fastest way to build a credit record is to open a student credit card when you're still in school. Student cards don't require a lengthy credit history. But while it was once possible ... How Many Credit Cards Should You Carry? |
Student loans: Pay them off, or invest elsewhere? - Christian Science Monitor
 Christian Science Monitor | Student loans: Pay them off, or invest elsewhere? Christian Science Monitor Student loans at currently low interest rates should be paid off as quickly as possible, because there aren't many better investments out there. Student loans are question one in this week's mailbag. By Trent Hamm, Guest blogger / May 22, ... |
How To Be Richer, Smarter, And Better-Looking Than Your Parents - Business Insider
 Business Insider | How To Be Richer, Smarter, And Better-Looking Than Your Parents Business Insider Back when he was in college, Zac Bissonnette wrote Debt-Free U, a witty, intelligent polemic which argues that student loans are like nuclear waste and explains how to fund a great college education without them. Now 23, Zac is back with How to Be ... |
Winners and Losers 3 Years After Credit CARD Act - Fox Business
Winners and Losers 3 Years After Credit CARD Act Fox Business Automatically push consumers into high-cost plans that let you exceed your credit limit, for a fee. Market cards on college campuses and shower 18-year-old college students with freebies to induce them to sign up for credit cards. |