No credit student loans are a myth. If you do not have good credit you cannot get funding for college. Without good credit, student loans are impossible. Do any of these statements sound familiar to you? Well don't believe them!
The truth is that most student loans do not require good credit. In fact, the student loans you receive based on financial need do not require any type of credit check! Other student loans may require a credit check, but only for the purposes of determining your interest rate.
No credit check student loans are more common than anyone believes. These loans are generally provided based on financial need, and credit never comes into play. The government wants you to get an education, and therefore programs are in place to make that dream a reality. This is true for everyone, no matter your credit or your background.
The most common place to find no credit check student loans is through your school. The school you will attend should have their own fully staffed financial aid office. The sole purpose of this department is to help people like you find funding for college.
Most schools will have preferred lenders in which they automatically send your applications and information. Most of these lenders will offer no credit check student loans. Why? Because the schools want money! The more banks they can work with, and the more students they can get funding for, the higher the number of students that can enroll in classes, thus equaling more money in the university's pockets.
Another place you can check for no credit student loans is with private lending institutions. Some of these institutions, especially if you have a previous history with them, will not run a credit check for your student loans. Additionally, you may be able to negotiate a student loan without a credit check.
Negotiation is simply. Lenders appreciate the need for a higher education, and they are more than willing to lend money for college. If you do not have good credit, most institutions will allow you to receive a student loan without a credit check in exchange for agreeing to a higher interest rate. This is really not a bad deal, especially when you consider the refinancing options you may enjoy later in your academic career.
In the end, it doesn't matter what your credit is like when you get those first student loans. Your credit will raise naturally over the course of your academic career as your student loans provide you with a natural means of credit. You will soon find that additional loans need not be no credit check student loans.
Joe Eitel is an accomplished freelance writer who is an expert in the student loan consolidation field. If you'd like to learn more about no credit check student loans or how student loan consolidation works, visit: Consolidating Student Loans