As a parent with bad credit, trying to help your children get money for college can be frustrating. Student loans for parents with bad reputation can be hard to come by, but there are ways you can help. There are some loans you can get even with bad reputation as well as other financial alternatives.
Most likely you've already explored your options with federal loans and financial aid along with your student son or daughter. If you are in financial difficulties, your student may benefit. Check if he or she is eligible for financial aid or need-based scholarships or subsidized loans. The best starting point in conferrence schooling funds is the Stafford loan. This does not have any reputation requirement, so get this loan and any subsidized loans you can first, then see how much you'll need to borrow from secret lenders.
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You may be eligible to cosign for your children's student loans even with bad credit, especially if you have a steady employment narrative to counterbalance reputation problems. Offering to cosign your son or daughter's student loans can help despite your bad reputation because lenders will see that you are backing up your student and may offer lower interest rates and fees.
