Welcome to Student Loans Guide
Community College Student Loans 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.
Community College Student Loans Specific links
Community College Student Loans News
Student Loans: Stupid Is As Stupid Does
I know they will come. Everyday I see them. Two, three, five sometimes even ten articles a day on the student loan crisis find their way into Google news and other feeds that I get on college-related topics. People have frequently asked me of late if I will write something on the student loan crisis, so here it is.
Read more...Josephine Cassar: SC4 is working hard to keep college experience affordable
St. Clair County Community College student Josh Peters of Port Huron works on a math assignment at the SC4 Library. / MARK R. RUMMEL/ TIMES HERALD Recent news stories have explored the ongoing debate in Congress about student loans and the cost of attending college.
Read more...Community College Students Unlikely to Benefit from Cheap Loans
Subsidies on college loans tend to help the least needy, some experts say.
Read more...TeenTech Weekly: Social democracy, Obama threats, paying student loans in cash
The weekly roundup of Generation-Y and student news & resources you may have missed.
Read more...College loans following some into retirement age
At age 61, most people are thinking of retiring. Phyllis Young, of Wilton Manors, is focused on paying off her student loans that she took out more than two decades ago.
Read more...