Your Credit status helps you to get approved your loans in a very fast and easy manner. However if you are not having a good credit status don't feel defeated. There are lots of organizations working for students to help them complete there education without a Hitch. You can find good free resources and help to get yourstudent loan from http://www.abcofstudentloans.com. they offer free services to students. You can also findalternates to a loan for full details please visit - http://www.abcofstudentloan.com/Finding-free-money.php in case you need some professional help just fill a short form on the site, and they will call you.
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.
Generally a student loan does not affect your credit rating
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.
any credit line that you have- credit card, car loan, mortgage and student loan
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.
yes no maybe so depends on bad your credit actually is
As long as loan stays current, credit & other obligations irrelevant.
i actually worked for sallie Mae as a student loan consultant. It depends on the type of loan that you are looking for. they all vary from loan to loan.
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.
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
A loan in forbearance permits a student to temporarily postpone their federal student loan payments. Or, the forbearance temporarily reduces the amount the student pays. Your students loans may show up on your credit report while in repayment status or out of deferment.
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.
Depends on what type of student loan. If it's a Stafford, no. If it's a PLUS loan, yes.
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.
It is very hard to obtain a private loan without credit or a co-signer. If you have collateral such as a vehicle/boat, then you may be able to obtain a secured loan from a credit union. Try building credit with a secured card or a student visa with a low limit before attempting to get a loan.
That is decided by the LENDER.
The Student Loan GUY @ http://www.studentloanfundamentals.com Your Student Loan will become "Current" on your credit report. Now figuring out the score is hard because it depends on the rest of your financial situation. It depends on what you have on the credit report.
I have had a lot of experience with private student loans that are non-certified (they do not have to go thru your school to get approved). Next Student has a bit more lenient credit guidelines than many other private student loan companies. You might also try Sallie Mae Tuition Answer Loan. Other loan companies that participate with "fair" credit are American General and Citifinancial. Good Luck!