student loans for someone with bad credit Do you have bad credit, or perhaps you know someone with bad credit? Getting approved for a loan with a low credit score is possible. However, expect to pay a higher finance rate. Fortunately, if you're applying for a student loan with poor credit, there are several options available to you.

Student loans for someone with bad credit include Federal, private, and parent loans. Persons with bad credit ought to consider a Federal student loan. Federal loan programs don't require a credit check. Therefore, you can obtain a student loan with no credit history or bad credit. Student loans for someone with bad credit also include private loans from credit unions or banks. Since private loans aren't backed by the Federal government, credit checks are required.

Additionally, student loans for someone with bad credit include Federal PLUS loans. This loan is slightly different from the others. In this case, parents apply for a student loan on their child's behalf. Even though PLUS is a Federal loan, credit checks are a requirement. To qualify for funds, parents must have satisfactory credit.