Student Loans Consolidation
Advice
copyright http://www.student-loan-consolidation-advice.com, 2008
Sitemap
Google
Student Loan
Consolidation
Resources

Unbeknownst to many, there are student loans
for people with bad credit. These student loans
do not look at the existing credit of the borrower.
Thus, having bad credit is not an issue. These
types of loans include Stafford Loans, Perkins
Loans and other alternative non-credit based
loans.

Stafford loan is a not just a loan for eligible
students in institutions of the United States but
they are also student loans for people with bad
credit. In 1988, it was named after Senator Robert
Stafford of Vermont for his works in higher
education. Stafford loans are guaranteed by the
United States government. These loans have a
much lower interest rate than one would get
when applying for a private loan. Although they
come with lower interest rates, there are strict
eligibility requirements and borrowing limits
applied.

Perkins Loans is named after Carl Perkins who is
a former member of the U.S. House of
Representatives from Kentucky. Perkins loans
are need-based student loans for people with bad
credit. They carry a fixed interest rate of 5% for a
ten-year repayment duration period. It also has a
9-month grace period which means that the
borrower can pay ten months after graduation.

There are also alternative non-credit based loans
like Loans for Disadvantaged Students, Nursing
Student Loan Program and Primary Care Loan
Program. These are student loans for people with
bad credit available for students who are
enrolling or are currently enrolled in the field of
health sciences such as medicine and nursing.
The Loans for Disadvantaged Students is
sponsored by the Department of Health and
Human Services.

The Nursing Student Loan Program provides up
to $4000 per school year to qualified nursing
students. It has nine months grace period.
Primary Care Loan Program is available to those
whose focus is on primary care. It has a grace
period of 12 months. However, the recipient of
the loan must remain practicing primary care for
the duration of the loan repayment.

There are lots student loans for people with bad
credit so do not lose the hope of getting a college
degree. A bad credit need not hinder you in
pursuing a degree. If another, it will more than
motivate you to get yourself into college, earn a
degree and find a job that will not just get you out
of debt but will keep you out of it for good!



     Student Loans For People with Bad Credit