Bad credit and student loans?

  1. Since student loans are such a hot topic I figured I would ask: If you have bad credit (credit cards and the like) are you still eligible for a Stafford loan? Does the loan go to the school or to your bank account? I have :imbar terrible :imbar credit, but my SAR says my EFC is 0000. I could really use the money for living expenses...
  2. Visit HisTreasure profile page

    About HisTreasure, ADN, RN

    Joined: Apr '04; Posts: 821; Likes: 441
    BSN student; from US
    Specialty: 10 year(s) of experience in Pediatrics


  3. by   memphispanda
    My credit wasn't the greatest when I started school and I had no problems getting loans for school.
  4. by   TopCat1234
    your personal credit history has nothing to do with obtaining federal stafford loans. the loans are sent directly to the school and credited to your account. if there are any funds left over after tuition, books and fees are paid, you can either take the excess or have it sent back to the lender. but again, beware of taking the excess because of the lifetime limits: $23,000 for a dependent undergraduate student, $46,000 for an indepedent undergraduate student.