Bad Credit Student Loans—Can You Pay For College With A Low Credit Score?

Student loans are one of many ways to pay for college, but more often than not, with the high cost of college, students will have to take out at least one student loan to help cover tuition costs.  The problem many people fear is they will be unable to obtain a student loan due to bad credit, but this is not the case.

There are some private lenders that may not lend to a college student with bad credit, but the majority of private loans are made to students coming out of high school, which means there is little or no credit history to work with.

Also, the most common form of student loans are federal student loans, which are made available to anyone that is university-bound and this loans also factors in little, or more commonly, no credit history whatsoever.

Typically, a federal student loan, instead of looking at an individual credit score, will simply put a cap on the amount that can be borrowed, in the hopes that as a student progresses in their college career they can better manage the larger student loan amounts that are available to them.

Anyone with bad credit need not worry about getting a student loan to help cover college costs.  However, the best policy on financial aid is to seek out scholarship and grant options before turning to student loan aid.