Student Loans for people with bad credit that take only to co-signers credit into consideration?

Aug 25th, 2010
by admin.

I have bad credit, but need a student loan. Stafford loans only offer $200 because I am on scholarship, but I still need money for books and rent. I have a co-signer with good credit available. Are there any loans that will just look at their information instead of my own?
And where would I find these?

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2 Comments

  1. MYRA C says:
    August 25, 2010 at 5:18 am

    I am a retired banker and the answer is yes. Some student loans are guaranteed by government while others are not. If not gov’t guaranteed then most likely a guarantor/s (co-signer/s) will be requested. Almost always this will have to be parents with sound credit. This is a requirement because a very great many students after they graduated declared bankruptcy and walked away from these loans. Now the guarantor/s (co-signers) must implement the guarantee and pay the loan. You then have the obligation to pay them back since they will likely be parents.

  2. Coke Zero Queen says:
    August 25, 2010 at 5:59 am

    You can try Sallie Mae, but it’s hard to get a loan these days. Try local banks too.

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