While most of us think of teenagers fresh out of high school when we hear the words College Student, the reality is that students come from every imaginable demographic. Some of them are married with kids, some of them are working two jobs while trying to stay on top of their studies, and some of them are trying to obtain marketable skills after a downturn in their respective industries. Some of them even have a questionable credit history.

Banking is an important topic and these students need financing, too, and it is not always easy to find it. Though a poor credit history may not be an ideal study partner, there are many lenders who will be willing to work with you to help you reach your educational goals. When looking for a poor credit student loan, you should familiarise yourself with all of your options; from private student loans to non-credit based government loans such as Stafford, Perkins, and field-specific loans.

Federal Stafford loans

Stafford loans are the most common federal loans; you can reapply every year, as an undergrad or grad student. They can be subsidised and unsubsidised; neither type requires a credit check. The subsidised Stafford is given to financially disadvantaged students, and the government makes your interest payments until you are out of school. The unsubsidised Stafford is not income-based. It is easier to get, but you are responsible for paying all of the interest without governmental help. One problem--both types of Stafford loans tend to be small and you will likely need to find additional funding.  So you will have to pass through banking loans for example.

Perkins loans are harder to get, as they are typically given to students who are considered to be significantly disadvantaged, and are available to both undergrads and grad students. Though your credit rating will not be a factor, you will have to demonstrate financial need as an international student.

Field-specific programmes

Many loan programms are attached to specific fields of study, particularly for teachers, doctors, and nurses. These loans have a longer grace period than typical student loans, but they may have additional stipulations regarding the areas in which you will practice, the GPA you must maintain, etc. Once you have decided on a major, make sure to check online and with your student aid office to see if any special programmes are available for your field of study.

 
Private student loans

Sometimes there are situations where none of the above options are viable. Perhaps you currently make too much money; perhaps traditional loan programs will not be enough to cover all of your expenses. You may also need money for extras such as living expenses, a laptop or books. If this is your situation, private student loans are an excellent source of alternative or additional funding.

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Source: www.articlesphere.com/Article/Getting-The-Perfect-Student-Loan-When-You-Have-Bad-Credit/186782