Bad Credit + School Loan

United States
December 13, 2007 7:22pm CST
Hey there... I'm currently attending college online via the University of Maryland University College. Currently, I'm only taking 1-2 classes at a time, though I'm interested and capable of completing, at the very least, a part time curriculum. Unfortunately, I am unable to pay for more than 1-2 classes at this time, due to my limited income. I haven't applied for a loan because I ruined my credit when I was 18 and ignorant to the severity of the consequences that result from not paying your credit cards. My credit is miserable, and though I'm slowly attempting to rebuild it and pay off all of my debt, it's far below average. I was wondering if it's worth looking into a school loan, despite my credit. I desperately want to go to school and I feel like it's taking so much longer than it has to because I am working at an extremely slow pace- but not because I'm incapable. Do they warrant school loans to those with bad credit? Does anyone have any advice as to where I could apply for a school loan? Additionally, if anyone has any advice on credit (and the lack thereof) in general, I'd much appreciate any help, as I'm still young and still not well informed on the topic- though I know it's a serious matter and never to mess with it again!
2 people like this
4 responses
@slickcut (8141)
• United States
14 Dec 07
When i went to college i had to pay ,but there were several people there that had applied for a pall grant,you do not have to pay those grants back and it does not matter about your credit.What will get you a pall grant is if you have a low income.So maybe you could look into that and see what the requirements are.I knew one girl that was married and her husband was working and she applied for a pall grant and got it,and she was able to attend college free..
• United States
14 Dec 07
Wow, I've never heard of the pall grant. I do have low income so perhaps I would be eligible. I will definitely look into the options. Thank you kindly!
• Malaysia
14 Dec 07
contradict to flyerme, I think most banks and finance institutions offer student loans already. Also, even the government is offering it as well. But then again, I guess it is depending on your area. Why don't you go and ask them first? Also, it doesn't hurt if you go and consult the school consullors on your difficulties. The main thing is that now you learnt your lessons and are turning over a new leaf.
• United States
14 Dec 07
Thank you both for the help!
@flyerme (46)
• Australia
14 Dec 07
first hting you should do is start paying off all your existing deb if not already,Legally if you pay as little as $1 a week(every week) they can not hassle you and it should show that you are making payments, and then think of getting finance,you should get a loan these days a bum can get a loan if he/she agrees to pay back the HIGH interset rates
• United States
14 Dec 07
Thank you for the advice! I am working on paying off the credit, slowly, but surely. Thank you for taking the time to try to help!
@vera5d (3958)
• United States
18 Dec 07
try www.aessuccess.org - this is where our loans are... my honest advice is to forget college all together and don't get those loans...we are $30k in debt for a degree my husband doesn't even use! I on the other hand did community college, got my associates and was able to get just a good of paying job when i was working...that might be a good option to see if you can transfer credits...it is usally half the cost of big name schools