You’re in a pinch and you need to find out how to get a college loan even if you have bad credit there are several ways to get a loan even if you bad credit in several different options you have of people to go to, to get certain loans that you will need.
1. The first option you have the need to get a loan and you have bad credit, especially a college loan, is to go to the bank and discuss with a personal loan banker that you are looking for a loan and set up with them certain contingencies that you need to maintain a certain GPA in order to qualify for future loans and you can have them loan you a certain amount of money on a semester to semester basis. Going about getting a loan in this fashion, will cause the banker to be able to put more trust in you and therefore loan more money. While this does require a little more effort, it is well worth it if you can get a loan for college.
2. The second option you have if you have bad credit and need a college loan is to ask family or friends for money. Odds are if you’re applying for college loan and you have bad credit you haven’t asked her parents for money yet. If you simply haven’t asked her parents for college loan because your too prideful, it is recommended that you ask them for a loan. oftentimes parents will be more than willing to pay for the students college tuition, as they know that college guide their son/daughter the opportunity to likely make more money in this world, more so than if you did not go to college.
3. The third option you have to get a loan, is to figure out why you have bad credit in first place. You can go to www.annualcreditreport.com to get a free copy of your credit report. As the website states, you can only get this free report once per year. If you want to get an actual number of your credit score will have to pay a certain amount of money and go to a website like www.freecreditreport.com.
The bottom line is if you have bad credit it’s hard for banks and other lending institutions to loan you money. This is why you can either a) work on fixing your credit score b) trying to get a loan from family or friends, or c) trying work with a personal banker to get you the money you need.