It may be possible to get approved for a student loan with bad credit. Discover some potential options here.
Can help you build credit: Consistently making your monthly payments will improve your repayment history, which makes up the largest portion of your FICO credit score. Cosigner optionality: Many student loan lenders require a cosigner; they can be helpful when you have bad credit. There are also...
Bad Credit Loans was founded in 1998, making it the oldest school’s financial aid office company on our list. It aims to help all those who can’t find a large loan because of their poor credit score. For the past two decades, they have been doing this and serving millions of custome...
If you have bad credit, you may be motivated to refinance your student loans to lower monthly payments. However, many lenders require a minimum credit score in the mid-to-high 600s. You will likely need a cosigner on the loan application to qualify. Shopping around and comparing rates may...
It’s suitable for those with limited or poor credit. If you make on-time payments to pay off your card balance, your credit score will improve over time as will your chance of qualifying for a regular unsecured credit card. How to get a private student loan with bad credit and no ...
» MORE: Credit score needed to refinance student loans Boost your cash flow Bad credit isn’t the only reason you could be denied for student loan refinancing. Lenders also look closely at cash flow, or the money left over after you cover regular monthly expenses such as rent and car pa...
What Credit Score Do You Need for a Private Student Loan? Most private student loan lenders require a credit score in the mid-600s in order to qualify. If the student doesn't have a sufficient credit score, the lender may require a creditworthy co-signer who does. Additionally, higher cre...
MoneyGeek analyzed the best student loans for bad credit borrowers. Discover the private student loans for bad credit, including Ascent and more.
Don't give up on getting a private student loan because you have bad credit. There are ways you could still qualify.
Credit score requirements for private student loans Generally, you or your cosigner must have credit scores in the mid-to-upper 600s to get approved for a private student loan. However, some lenders have lower minimums or don't require a credit score at all to qualify — but loans that ...