If you have bad credit and you need money to go to college, there are some steps you can take to get the funding you need.

The first thing you need to do is fill out the FAFSA application. FAFSA stands for the Free Application for Federal Student Aid. When you first look at the paperwork involved, you might be apprehensive, but the time it takes to do this one thing will pay you in the future.

When you fill out your FAFSA, you are applying for a Federal Stafford Loan. These types of loans are given without a credit check so your bad credit won’t be a factor when it comes to applying for these loans. If you are a citizen, have little or no income, and have not defaulted on any federal student loans, then you are sure to be approved.

Another loan that does not require good credit is the Perkins loan. Apply for this as soon as possible because they are given out as people apply and the funding will eventually run out. These loans are funded by the government and the college you are attending.

These two loans may not cover everything you need so you will probably have to apply for a private student loan. With a bad credit score, getting a private loan will probably be impossible without a cosigner.

A cosigner is someone who allows you to use their good credit to get a loan. If you are able to get a good cosigner, then you will be able to get your money for school. Choosing someone whose credit score is nearly as bad as or even worse than yours won’t help you. The loan companies don’t add credit scores together; rather they will literally be using the other person’s credit score as a basis for giving you a loan.

When someone cosigns for you they are literally accepting responsibility for the repayment of your loan if you do not make timely payments or if you default on your student loan. They take the risk of ruining their credit if you shirk your responsibility, so don’t shirk it! Keep that person in mind and always make timely payments.