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Can you co sign a student loan with bad credit?

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Answered 2010-02-21 21:53:59

In the USA, if the student loan is Federal like a Stafford or Perkins loan, then yes you can cosign with bad credit. If the student loan is a private student loan, then no, you must have good credit.

Keep in mind, you should never take out private student loans out until you have used up Federal loans, grants, and scholarships. Private student loans have high interest rates and no benefits.

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no you do have to have a cosigner with good credit in order to get a student loan.

yes no maybe so depends on bad your credit actually is

It is possible to get a student loan if you have bad credit, and it might be one of the few loans you can get fairly easily despite bad credit ratings. Beware though of companies trying to sell you bad, overpriced loan products.

Yes, there are a number of student loan options for those who can't get anyone to cosign and those who have bad credit. One option is a federal loan.

The best place to apply for a student loan is through a company that services federal student loans. Otherwise, a few companies that specialize in student loans for those with bad credit include Education Connection and Better Loan Choice.

If you are getting a Federal Student Loan credit is not an issues. I just got a Federal Student loan and my credit is BAD!!! The thing is, is that it's a Federal Loan so you will always owe that money, even if you claim chapter 7 or 13. I was worried about that too, but I got one just fine.

They are directly determined by the amount of existing credit a person has, and the score of that credit. If a person has bad credit, they will need to find a person (typically their parent) to co-sign the loan. The co-signer assumes responsibility for the loan if it is not paid by the person who originally takes out the loan.

There are different ways that you can still get a student loan even if you have a bad credit history. These include getting a co-signer for the loan or you could contact banks and lenders and explain your situation to them.

You can begin accomplishing this by the following: ,, and .

Yes, you can get Bad Credit Loan.

It is the most difficult to get a loan modification with bad credit. Though not impossible, since many lending groups would rather loan to someone with bad credit because the interest that person will have to pay the loan company is going to be very high. Asking for a loan modification in the first place is a sign to creditors that they have bad credit and are trying to fix it.

the person that cosigns for you does not have to be related to you. and i dont know who will give you a loan without one, cause i cant get one either.

Government student loans. Some companies also offer contracts to those with bad credit, but the interest is much much higher.

Most likely the loan company won't accept it because to need a cosigner on a loan means that there is bad credit all ready. Two bad credit reports don't equal one good one. If you have bad credit it isn't a good idea anyway because you could end up with the loan and this will impact your credit report in a negative way.

It depends on how old you are, and if this is your first degree. In the UK if you are a school leaver and you have some bad credit you would be entitled to a student loan. However if you are a mature student they may not grant you one.

In the US, the only way to get a co-signer off your student loan is to pay off the loan perhaps by consolidating the loan.

In my view this provided will helps you to get more information for your answer

You can find a bad credit home loan at

Yes, there are a number of student loan options for those who can't get anyone to cosign and those who have bad credit. One option is a federal loan.

Yes, your kid can apply for financial aid themselves, even if they have no credit or bad credit. Federal financial aid does not look at credit rating or employment status.

Anyone with bad credit will pay higher interest rates on a loan, not just a student loan. The lender charges a higher interest rate which enables the facility to receive more interest quicker in case of default.

One can apply for a loan with bad credit online or by phone. Free Credit Score has applications for someone who needs a loan with bad credit to get one.

If you are looking for money over a shorter period of time, even you have a bad credit score. Fresh Instant loans give you a quick bad credit loan whenever you need.

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