Can I Still Get A Student Loan With No Co-Signers And Bad Credit ?

Yes, yes, yes! Student loan applicants with bad credit and an absence of co-signers are still able to access student loan funds through federal student loan servicing. Only private student loans require strict evaluation of credit standing, history and scores plus the additional insurance of the presence of a co-signer.  Federal student loans are quite the opposite in terms of qualifying complexities:

Eligibility of federal student loans only require the following:

	US citizenship, eligible non-citizen status or permanent residency
	Enrollment in a qualified school
	Absence of any unresolved overpayments or defaults in other student loan programs
	Good academic standing/td>
	Approved Financial need evaluation

You should get familiar with Direct Loans and Federal Family Education Loans (FFEL).  These are the federal government’s largest federal student loan programs.  Both are controlled and monitored by Congress and the Department of Education.  Key terms in the student loan agreements are regulated by the federal government in both programs.  Even maximum student loan interest ratesfor both programs are dictated by the federal government.

What is Federal Family Education Loans or FFEL?

This is a student loan that is guaranteed by the federal government through guaranty agencies.  Origination of the loan, however, is done through an authorized private lender.

In student loans through Federal Family Education Loans, lenders are assured that the government will pay back any student loan debt amount that borrowers fail to settle.  All they need to do is to prove that they have exhausted efforts to collect the said student loan and submit the required documentation.

What is Direct Federal Loans?

Direct Federal Student Loans are loans granted by the federal government directly to the students with the help of lending institutions and universities or schools.  In this type of federal student loan, there are no guaranty agencies involved.

There are several types of federal student loans to choose from.  One of them is called the Stafford loan.

Stafford Loans are the most common federal student loans due to its low interest rate (as low as 3.4%).  It is available for students who are still in school, students who have graduated but with intent to pursue higher studies and for students who are considered as working-students.

The treatment of Stafford student loan interest rates depends on whether the Stafford loan is subsidized or not.  Subsidized loans relieve students of interest rates while they are in school since the government takes care of the interest accrued.  Unsubsidized Stafford student loans, on the other hand, allow students to forego interest payments prior to graduation if the student chooses.  Interest amount may be added to the principal amount to be paid on a monthly basis after a grace period.  Another option is for parents to pay for the interest incurred during the school period.

Stafford loans are available both through the FFEL and Direct loan programs.  

Other available federal student loan programs include Perkins, Plus and HEAL.  Although most of these federal loan types are similar in the matter of lower interest rate and other important loan terms, differences usually lie in the repayment plans.

Nevertheless, the bottom line of this whole discussion is that it is certain that you can still get a student loan even with bad credits and no co-signers through the federal student loan services.