Different Kinds of Student Loan Options
How good is your credit history? Have you wanted to apply for a student loan, but felt your credit history would prevent you from being accepted?
While standard loan companies are more than willing to hand out loans to people with good credit, those who fall short of the mark are left without approval. The good news is, there are some student loans available that do not take your current credit history into consideration.
The Stafford Loan which is from the U.S. Department of Education does not review a person's credit history for consideration when approving the loan. This is in large part because these loans are given to students who fall in the young age category where they have not yet had a chance to develop any type of credit history.
The Perkins loan as well, does not take into consideration any credit history. It is a federal loan for those who are generally in dire financial need. A PLUS loan is an option if you have bad student loan credit. So even in the event of your having defaulted on a prior student loan you can still get financing through a PLUS loan.
This loan is actually taken out by your parents on your behalf. Therefore you would still be able to benefit from financial aid. If you are someone who has a negative credit rating, but would very much like to enroll in school then checking into the federally funded loan programs would be the way for you.
If you have defaulted on a student loan, the good news is that if you begin to make payments even though you can't repay the entire loan, you can still become eligible again to apply for more student aid. In the long run, if you can obtain a personal loan for a degree which will earn you a sizeable income upon completion, this may be something you might consider also.
John has been writing articles online for nearly 4 years now. Not only does this author specialize in a variety of subjects, but you can also check out his latest website on Water Filter Cartridges which reviews and lists the best Whole House Filter.Article Source: http;//www.Real Estate Nad.blogsport.com
While standard loan companies are more than willing to hand out loans to people with good credit, those who fall short of the mark are left without approval. The good news is, there are some student loans available that do not take your current credit history into consideration.
The Stafford Loan which is from the U.S. Department of Education does not review a person's credit history for consideration when approving the loan. This is in large part because these loans are given to students who fall in the young age category where they have not yet had a chance to develop any type of credit history.
The Perkins loan as well, does not take into consideration any credit history. It is a federal loan for those who are generally in dire financial need. A PLUS loan is an option if you have bad student loan credit. So even in the event of your having defaulted on a prior student loan you can still get financing through a PLUS loan.
This loan is actually taken out by your parents on your behalf. Therefore you would still be able to benefit from financial aid. If you are someone who has a negative credit rating, but would very much like to enroll in school then checking into the federally funded loan programs would be the way for you.
If you have defaulted on a student loan, the good news is that if you begin to make payments even though you can't repay the entire loan, you can still become eligible again to apply for more student aid. In the long run, if you can obtain a personal loan for a degree which will earn you a sizeable income upon completion, this may be something you might consider also.
John has been writing articles online for nearly 4 years now. Not only does this author specialize in a variety of subjects, but you can also check out his latest website on Water Filter Cartridges which reviews and lists the best Whole House Filter.Article Source: http;//www.Real Estate Nad.blogsport.com
Labels: Kinds of Student Loan Options
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