How to Get Through College with No Credit History

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Building Credit History » How to Get Through College with No Credit History

How to Get Through College with No Credit History

Add to Favorites:
Pursing a college diploma could be very expensive. You have to allot cash for the tuition fee, books, dorm rent and other personal expenses. But now it is easier to get through college with the student financial aide programs granted to qualified students. But of course to be able to qualify, your credit history or score should still be checked on. What if you don't have a credit history yet? Would this mean to say that you have to forget about your dream diploma? Of course not. Students with no credit history can still go to college by taking a bad credit student loan. Education is deemed by many as a very precious thing and for this reason, many financial institutions are willing to help students in the form of student loans. This is a big relief not only for the students but for parents as well. Bad credit student loans usually have higher interest rates but for students with no credit history and are really serious about college, this is an option they would prefer. Since student loans for borrowers with no credit history apply high rates, it is important that you use your funds only on things which are necessary for school. If you have decided to apply for a student loan, here are some other things that you needed to know: Check out on the Federal Loan available for you. The Federal Student loan program is the government's initiative in helping students copes with the rising expenses that go with college education. For you to know, whether you qualify for the loan or not, visit the Education Department in your area and have a free assessment. No fees are collected so there is no harm taking the assessment. Bad credit student loan should only be your last resort and not your primary option. Like stated earlier, go for Federal loans or maybe approach non-profit organizations providing assistance to students with financial difficulties. When you have been approved of your student loan, make it a habit to pay dues on time as much as possible. Leave no dues unpaid; this way the next time you get a loan, lenders can already have a place to look on your credit history. Remember that having no credit is still better than having a bad credit history so learn how to say no to unnecessary purchases. Having a good credit is not only of benefit to you while in school but could even be more advantageous after you've graduated. This kind of loan does not look on the credit history of a student borrower. There are no restrictions and there even is no credit history check. The catch on this kind of loan though is that rates are higher but even so, a lot of students and parents see it a hope for college education. Make it a rule of the thumb to make a research and comparison first before finally settling for a certain lender. This way, you have higher chances of finding better deals.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products’ Terms & Conditions on the issuing banks' websites.
Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

How to Subdue Wedding Expenses and Earn up to $1,000 for Honeymoon

Posted: June 21, 2017

Whether you are married or not, we all agree that marriage is incredibly important for a person. It signifies the beginning of two people as a team, as a family, of a long commitment. It is a newly born union and the sign of your choice, ... Continue reading
How To Choose The Best Credit Card For Everyday Spending

How To Choose The Best Credit Card For Everyday Spending

Posted: June 21, 2017

When you reach for your wallet to pay for groceries, gas, dinner out, or any other everyday purchase, are you searching for cash, a debit card, or a credit card? Many people hesitate to charge this type of everyday spending to a credit ... Continue reading
How to Save Money. Best Credit Card Deals and Tips.

How to Save Money. Best Credit Card Deals and Tips.

Posted: June 20, 2017

We all've been through or may find ourselves in such an emergency when money is needed immediately. Lucky you are if you have savings for unexpected expenses. If not, it's never too late to start saving money. There are different ways to ... Continue reading