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Are you an adult who is interested in returning to college or would you like to do so for the first time? If so, how is your credit? When many individuals think of student loans, bad credit isn't the first thing that comes to mind. This is due in part to the fact that colleges and student loans are often associated with high school students who have no credit, let alone bad credit. Unfortunately, many adults choose not to return to college in fear that their bad credit will hinder their effort, but will it really?

Of course, your credit may have an impact on your ability to obtain a student loan, but it honestly all depends on where you look. Those with poor credit instinctively want to find a company that hands out loans to those with bad credit. This is not easy to do, as it is risky for a lender to solely focus on those with poor credit. With that said, there are still a number of steps that you can take to obtain a student loan, even when your credit is less than perfect.

The first thing that you will want to do is apply for federal student loans. This is important as federal student loans, such as Stafford Loans, do not base eligibility on credit. Instead, your eligibility, as well as the amount of financing that you will receive will all depend on your Free Application for Federal Student Aid (FAFSA). The only downside to federal student loans is that not all students obtain full financing for college. In fact, most only receive a percentage.

If you do not qualify for federal student loans or if you need additional financing, the next place that you will want to look at is your local financial institutions. If you have a checking or a savings account, visit your bank. Ask to speak with a loan officer. Do not make the mistake of assuming that you will be denied financing. By speaking with a loan officer, as opposed to dropping off a loan application, your chances of success significantly improve. This is because you are able to layout a plan for the lender in question.

As previously stated, meeting with a loan officer has a number of benefits. Before your meeting, however, be sure to have a set plan in place. Financial lenders want and need to have a good reason for awarding financing to those with poor credit. Be sure to state your reasons for returning to school, such as to improve your income in the long-run. Be sure to have a concrete repayment plan in place. Unlike federal loans, private loans often require repayment to start immediately. Create a budget for yourself to determine how much you can afford to pay monthly. Doing so should allow all financial lenders to see that you are serious about improving your credit, getting a better education, as well making full repayment on your student loan.

The two above mentioned steps are just a few of the many that you will want to take to obtain a student loan for college. As a reminder, be sure not to discount other avenues of financing, including scholarships and grants.