How do I get a student loan with bad credit?
Dec 04, 2009 in
Financial Aid
its a wonder
I have enrolled in college and have recieved finaical aid, and I will be getting money back but I wont recieve the money until the fourth week of college. Unfortunately I need the money now, so I can keep my car and pay for babysitting costs. So I will need a short term loan until my finacial aid comes in at the end of September. I have really bad credit and I really need a hand with this.
I have enrolled in college and have recieved finaical aid, and I will be getting money back but I wont recieve the money until the fourth week of college. Unfortunately I need the money now, so I can keep my car and pay for babysitting costs. So I will need a short term loan until my finacial aid comes in at the end of September. I have really bad credit and I really need a hand with this.
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4 comments
Yourname Here on December 5, 2009 at 4:12 pm
It sounds like you are saying you have your student loan…but you need extra money before you receive you student loan funds. You need to get a job. Any loans you take with really bad credit will be at a high interest rate. You student loans are for paying for school expenses. You cannot get away with NOT paying back student loans. They are forever. You might want to consider whether or not you should really be going to school now or be working and earning money. You have a child to take care of as well. Spend less money.
aljea on December 9, 2009 at 12:48 am
Have you tried getting free financial aid or EOPS.
Plus, I don’t think you need good credit to get a school loan, you have the whole time you are in school to pay it back and like 6 months after too. You should talk to the financial aid office at school.
Or there is also scholarships
ttoflea on December 10, 2009 at 7:20 pm
If you have bad credit, commercial credit probably isn’t an option, and as you already have bad credit, that’s probably a good thing in your case. You don’t need to compound your problems with more high interest credit you can’t afford.
You may find your college financial aid office has short term loans available through their office. These loans are usually expected to be repaid from your other loan imbursement, and failure to repay the short term loan usually will halt your next term registration, so don’t take the loan unless you know you can and will repay it.
Soficetica on December 12, 2009 at 8:51 pm
If your school offers some type of emergency loan(usually through EOPS – which helps you pay for tuition then pay it back in a month or so), then you should be ok. Just ask your financial aid office on how to obtain it and when you should pay it back.