If you are worried that bad credit will stop you from going to college, then this article may help you find your way through college. Although it is true that it is much easier to find student loans with good interest rates if you have a great credit rating, but even if you have a bad credit rating you don’t need to panic and give up your hopes. There are loans that cater for bad credit students.
The Stafford Loan
Let’s take the example of the most famous US Department of Education loan, the Stafford loan. Making use of common sense, the US Department of Education assumes that most applicants will be going to college straight from high school, and will not have a credit rating as yet and therefore, Stafford loans do not even consider the credit rating a factor when it comes to qualifications. 
The Perkins Loan
The Perkins loans, which are for the most deserving and neediest students also maintains the same rule. Thus students with bad credit ratings should not refrain from trying for loans. The only way that Bad credit rating can interfere with your loan process is if you have defaulted on a federally granted student loan in the past.
PLUS Loan
It is also possible to get a bad credit student loan if your parents have a good rating. A PLUS loan is a loan that is granted to parents instead of the students. They are intended to cover the amount of fee that the parents are obligated to pay towards the total cost. Student loans such as Stafford and Perkins loans that are granted by the US Department of Education are based on this policy, assuming that the parents will pay a certain amount of their child’s college fee.
US Department of Education
Federal funding through the US Department of Education is a better choice for most students as these loans are intended to make college more accessible to the students and thus their terms and conditions as well as the interest rates are somewhat less, as compared to the other banks and lending agencies.
Private Student Loans
However, if you are unable to get a US department of Education loan, you might have to turn to private lending agencies. And if you plan to graduate taking a course that will yield profitable income, such as law or medicine, then you might have better chances of getting a bad credit student loan from these private lenders.
Single & Combination Loans
Howsoever, there is no hard and fast rule that has to be followed. You can apply for a single loan, or go through college by taking a combination of loans. And even if you get a bad credit student loan at a high interest rate, don’t panic.
Deferred Payments
Many student loans defer payment until you finish college, giving you ample time to improve your credit rating. At that point, you may want to look for other options and opportunities to lower your student loan rate to make them affordable.
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