Did bad credit prevent you from getting a loan for school?

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I know not everyone has great credit, and I am now looking into loans for nursing school. I don't have the best credit, in fact it's pretty bad and i'm just wondering what you did if you had the same problem.

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The first loan I had my dad cosign, but at that time I had good credit. I was just young. It was after I got sick and was off work that my credit went downhill. Amazingly, my last loan I did not need a cosigner and my credit is not perfect.

You might ask your parents or someone else that knows you well if they're willing to cosign for you but make sure you do not default! Not only does it ruin your credit even more, but it also will ruin the cosigners credit. Starting now, make sure you pay your bills on time every month. The longer you do that, the more likely that next time you won't have this problem. My brother, who was an accountant said that although bad credit will stay on report for 7 years, if you've been on time and good for ~2 it increases your chances of not having a cosigner the next time.

Also, you might be stuck paying higher intrest rates.

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Every school is different. In the past I never had a problem getting a student loan. However, many of the community colleges here in NC use CFNC to process their financial aid. I was turned down by them for a loan. Funny thing is I was told that they don't even do a credit check at the 4 year universities so I won't have a problem when I go for my BSN. Talk to the financial aid advisor at your school. They can guide you on the best way to get a loan.

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Specializes in EMS, ER, GI, PCU/Telemetry.

i have had a miserable time with financial aide. my credit was actually perfect before i started with all these student loans (because i dont qualify for a penny of federal aide).. they are all pieced together supplemental loans... and they all are accruing interest rapidly which is now on my credit report and i got turned down for a credit card a couple weeks ago!! i just about laid an egg in the financial aide mans office when i found out why. the school i go to is private (and all about money)... well they decided they were going to stop dealing with one of the companies i get my supplemental loan thru about 3 months ago... so me and about 6 other nursing students have 3,367 dollars to come up with by the 1st of the year or they will hold our ATT!!! try and get as much federal funding as you can!!! supplemental loans are horrible!

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I actually have not the best credit...not absolutely horrible, but let's just say I couldn't get a credit card if I needed to! I still managed to get enough in student loans to cover all expenses

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Specializes in LTC, home health, private care.

Government student loans don't check credit, only private lenders like banks do - thank goodness. Talk to your financial aid advisor at school.

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