Did You Know That The Average American Household Has 13 Payment Cards — Including Credit Cards, Debit Cards, And Store Cards? Plus, There Are 1.3 Billion Payment Cards In Circulation In The United States Right Now. And, On Average, Americans Carry About $5,800 In Credit Card Debt Month To Month. If One Were To Make Only The Minimum Payment On That Debt Each Month, It Would Take 30 Years To Pay Off — Including An Additional $15,000 In Interest. Welcome To DebtConsolidationSite.com. We'll Provide You With Articles, Tips, And Tools That Will Help You Regain Control Of Your Credit. As
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Debt Consolidation Loan Rates, Student Loan Debt Consolidation, Debt Consolidation Mortgage Loans, Credit Card Debt Consolidation Loans, And Debt Consolidation Loans For People With Bad Credit.
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The easy way to get control
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Bad Credit Student Loan - What To Do If You Need One
Author: Mark Kessler
Are you concerned that bad credit will prevent you from going to
college? While it is true that finding student loans with
excellent interest rates is easier if you have a sterling
credit rating, bad credit student loan aid is possible.
For example, the most popular US Department of Education loan,
the Stafford loan, assumes that most applicants will be going
to college straight from high school, and will not have a
credit rating yet. Therefore, Stafford loans do not even
consider the credit rating a factor when it comes to
qualifications. The same holds true for Perkins loans, which
are federal loans designated for the neediest students.The
only reason bad credit would interfere with these kinds of
student loans are if you have defaulted on a federally granted
student loan in the past.
Bad credit student loans are also possible if your parents have
better credit than you do. In this case, a PLUS loan, which is
granted to parents and not to the student, might be the way to
go. US Department of Education student loans (like Stafford
and Perkins loans) assume that the parents will pay for a
certain amount of their children's schooling; PLUS loans are
intended to cover the amount that the parent is obligated to
contribute toward college costs.
Federal funding is a good choice for a bad credit student loan
because they are specifically designed to help make college more
accessible; therefore, their requirements are much looser than
those of most banks and other lending companies. However, if
you are unable to secure a US Department of Education student
loan, you may need to turn to private loans. If you are planning
to graduate in a field with a high earnings potential, like law
or medicine, you might have a better chance of receiving a bad
credit student loan from private lenders.
None of these choices are either/or possibilities, by the way.
You may be able to put together enough money to finance college
through a combination of any or all of the above types of loans.
Moreover, even if your bad credit student loan is at a very high
interest rate, all is not lost. Many student loans defer payment
until you have finished college, giving you time to improve your
credit rating. At that point, you might want to look into ways
to consolidate your student loan at a better rate, lowering your
payments to a more affordable level.
About the Author
Mark Kessler's website offers a comprehensive free resource of college financial aid for Consolidating Student Loans, as well as... Alternative Student Loans, ACS, Bad Credit, US Department Of Education Student Loans, including a variety student loan articles.==> Bad Credit Student Loan
Article Keywords:
'Debt Consolidation'
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Recently, an interesting
email came across my desk. I'll paste it below.
Check it out...
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Dear Anthony-
HELP I am in over my head
and I obviously need help. I owe just over $12,000 on two credit
cards. I know in
the past you recommend debt consolidation. But, I have read about
of the SCAM artists out there. Is
there someone I can talk to that you recommend? -Dan, New York
There are a lot of things to watch out for when it comes to debt consolidation. I
have a company I wholeheartedly recommend to others in need of help. I
find them fair, easy, and they don’t use “high-pressure” tactics.
Press the link below to check them out now.
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