You don't need credit for a student loan. It is backed by the Government. The loan is a percentage of the total needed to pay for tuition, around ninety five percent, but you will still have to come up with money to pay that difference in tuition and also books. In a lot of cases even more money is needed to pay for living expenses if you are away from home. You need 120 credits for a Bachelors degree or 8 classes per year. This is what they pay for. This loan is deferred (interest also) while you in college and then six months after you graduate you will start paying on it. You can ask if have not received a job by then to defer longer and also ask for different terms based on your job or family pay.
no you do have to have a cosigner with good credit in order to get a student loan.
Generally a student loan does not affect your credit rating
The credit limit is the initial amount of your student loan. It helps keep your student loan from skewing your debt to credit ratio which can lower your credit score and make it more difficult to get credit.
If the student loan is taken out in the name of the student then no. The student's credit score is separate from anyone else's. If the student loan is taken out in the name of the parent or with them as cosigner then yes - their credit scores would come into play.
yes no maybe so depends on bad your credit actually is
Gosh, when I was going to school, you could get a student loan independent of having good credit (thank God). The rules may have changed since the early 90s when I was in school, but I think the point of the student loan program is that you can get a loan without a credit check!
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.
As long as loan stays current, credit & other obligations irrelevant.