The federal government and private lenders are the two main sources of student loans, though some state governments distribute them as well.
If you have bad credit, a federal student loan is the best way to get a student loan without having a cosigner. Watch this short video to help you get started right now.
It still may be possible, however, to get a student loan if you apply with a cosigner who has excellent credit, because their good credit may help to offset your bad credit.
In addition, some student lenders do not rely solely on the FICO score to make approval, they will look at all of your credit history into consideration when evaluating a potential borrower’s loan application.
If you have bad credit and no cosigner, your best bet is to apply for federal student aid.
Most federal loans are based on financial need and do not require a cosigner or credit check.