Mickalino Posted April 20, 2009 Share Posted April 20, 2009 This is probably a dumb question, but since I wanted to be sure, here goes... If someone has bad credit, is it equally difficult to get educational loans, as it is, to obtain other types of loans ? Reason I ask, is because I figure if the government is involved in giving you a loan, like for education, they would have more leverage in getting your money if you default. So, assuming you don't qualify for a grant, or a big enough grant, and you need a loan that you will have to pay back, is it possible to get Financial Aid for education if you have bad credit, and if so, what's the best way ? Link to comment Share on other sites More sharing options...
AdamB Posted April 20, 2009 Share Posted April 20, 2009 This is probably a dumb question, but since I wanted to be sure, here goes...If someone has bad credit, is it equally difficult to get educational loans, as it is, to obtain other types of loans ? Reason I ask, is because I figure if the government is involved in giving you a loan, like for education, they would have more leverage in getting your money if you default. So, assuming you don't qualify for a grant, or a big enough grant, and you need a loan that you will have to pay back, is it possible to get Financial Aid for education if you have bad credit, and if so, what's the best way ? My credit is not all that good (reaaallly stupid decesions when I was younger, etc) and I did not have a problem getting my school loans. It is a bit easier since you are pretty much on the hook for them no matter what. Your school's f.a. office will help you with the process, and probably require you to also go through a orientation session. First step though is to fill out your FASA forms online (government forms that the schools use to determin need). Link to comment Share on other sites More sharing options...
Mickalino Posted April 20, 2009 Author Share Posted April 20, 2009 My credit is not all that good (reaaallly stupid decesions when I was younger, etc) and I did not have a problem getting my school loans. It is a bit easier since you are pretty much on the hook for them no matter what. Your school's f.a. office will help you with the process, and probably require you to also go through a orientation session. First step though is to fill out your FASA forms online (government forms that the schools use to determin need). Thanks so much.....so it sounds like it's based more on need, than on the person's credit....hopefully, at least Link to comment Share on other sites More sharing options...
No_Pressure Posted April 20, 2009 Share Posted April 20, 2009 My sister in law's mother was a coke head loser and she had no way to pay for college other than loans and scholarships. She also had no credit coming out of high school and somehow obtained loans for her courses, so while I can't tell you how because I don't really know I can tell you that the chances are good that it is possible. Link to comment Share on other sites More sharing options...
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