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  1. 1. The cost of attending college has grown dramatically in recent decades. Fees alone can cost as much as $50,000 per year, a sum that isout of reach of most families. The only option is to seek financial assistance, but in applying for student loans with bad credit getting approved can be quite tricky.indian loans
  2. 2. All lenders want to know if they will get their money back, and it isconfidence in this that any applicant needs to be able to convey in theirapplication In most cases, once the issues of income and the shareremaining after meeting the repayments of existing debt, are settled, thenit is possible to get fast approval on the loan While there is criteria tomeet, getting approval for a student loan is easier that many believe Thisis mainly because, amongst lenders, there is an expectation that thegraduate will eventually secure a well-paid job, making it an investment ofthe future, both in terms of the national interests and in their owncommercial interests
  3. 3. What is so Different? There are a few factors that make lending tostudents different Firstly, eligibility is not based on income or credit score This makes sense since students are expected to study and workpart-time, not have a career going So, when seeking student loans withbad credit, the lenders expect the applicants to be unable to commit torepaying immediately
  4. 4. The softer approach allows students to get away with such basic criteria,but this ultimately plays them into a strong position, and they can get fastapproval Lenders are willing to allow them to wait until after graduation tobegin repayments What this delay in repaying a student loan means candiffer, with some lenders offering a clear slate during indian loans collegeyears Others, however, seek interest rates to be paid only
  5. 5. This can mean monthly payments of $150 or so, depending on the sizeof the loan Finding the Best Offers Of course, the right loan needs to besecured if the future pressure to make repayments is to be minimized Inthis respect, the loans offered by different lending firms need to be looked
  6. 6. at When applying for student loans with bad credit, it is a good idea toconsider both private and public lending options
  7. 7. Generally speaking, it is the public arena in which the best deals arefound Perhaps, it is more difficult to get fast approval in the privatesector, but the public sector, with loans sourced from the federalgovernment, there is a wealth of easily accessible financing What ismore, they have the lowest fixed interest rates and the most flexiblerepayment policies
  8. 8. To secure student loans from the federal government, complete a FreeApplication for Federal Student Aid (FAFSA), which details the differentloan programs available in your state - Perkins, Stafford etc Opting for aPrivate Lender One drawback with federal loans is that the number ofloans available is capped, with applications needing to be submitted earlyto ensure approval For students seeking a student loan with bad credit,this is the only logical option, but not all students will qualify for theprograms
  9. 9. In such cases, a private lender is necessary Online lenders are the bestamongst this option, mainly due to the competitive rates on loanpackages that are especially designed for people with low credit scoresAnd because applications are filled in and submitted online too, it is easyto get fast approval, and to access funds as quickly as possible
  10. 10. Nevertheless, the terms are not as favorable as public sector studentloans, where interest rates are lower The advantage, however, is thatapproval can be given despite bad credit, but there is no means test toassess the suitability
  11. 11. indian loans