Where can I find a good low intrest rate student loan, with low or no credit?
Written By: aaren on November 29, 2009
3 Comments
Where can I find a excellent low intrest rate student loan, with low or no credit?
I have this friend who is trying to go to school in LA california and she lives in New York. Also she has no credit and her parents have small creidt as well. Do any one have any bank or suggestion on where she can get a excellent student loan?
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Tags: intrest rate, parents, student loan, suggestion
The best type of student loan to get is not a private bank loan but a federal government loan. Here’s what you need to do to get a federal loan:
1) Fill out the FAFSA. This will determine if you are eligible for financial aid. Go here:
http://www.fafsa.ed.gov/
2) Once you are eligible for aid, choose a government-based student loan. The best loan to get is a Federal Perkins Loan. These have low interest rates and the government will help you pay it back as long as you stay enrolled in school. You also don’t need a cosigner or excellent credit for it. For more info go here:
http://www.studentfinancedomain.com/student_loans/perkins_student_loans.aspx
3) The next best loan to get is a Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan. Learn more here:
http://www.studentfinancedomain.com/student_loans/subsidized_stafford_loan.aspx
4) You can also try to get a grant or scholarship, which is free money that you won’t have to pay back. You can read about them here:
http://www.studentfinancedomain.com/financial_aid/college_scholarship.aspx
And here are some excellent sites to check out:
http://www.fedmoney.org/
http://www.findtuition.com/scholarships/
http://apps.collegeboard.com/cbsearch_ss/welcome.jsp
http://www.freegovmoney.net/
http://www.educationplanner.com/education_planner/paying_article.asp?sponsor=2859&articleName=Grants_and_Scholarships
http://www.studentawards.com/
http://www.college-scholarships.com/
Excellent luck!
AES, Sally Mae, and then theres another Mae, not sure of the first name tho…
Tell your friend that they should apply for financial aid because filling out the FAFSA form is completely free. The FAFSA form simply informs you of what you are qualified for. This does not mean that you are forced to accept what they indicate you are qualified for.
Once you know what you are qualified for, your school will place together a Financial Aid package for you, at which time you can choose whether to accept certain loans or not.
One thing to keep in mind; if you want to receive Federal Grants through Financial Aid, which is money from the government that you do not have to pay back, you still need to fill out a FAFSA form. For more information on the FAFSA form and available Financial Aid, please visit the source below. Excellent luck, I hope this helps!