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9 best Student Loans for bad credit

Check out the best student loans for bad credit or no credit and see if you would qualify to finally start planning your future.

Bad or no credit: student loans designed for scores below fair

This list has the best student loans for people with bad credit. Source: The Mister Finance.
This list has the best student loans for people with bad credit. Source: The Mister Finance.

The best student loans for bad credit or no credit are worth checking because many students really depend on financing their education.

However, in most cases, there isn’t enough credit to apply for loans that require perfect scores.

Building a healthy credit path demands time and effort. Consequently, many young students can’t apply for lending solutions since several lenders require a good credit score.

On the other hand, some companies consider this situation and offer great options for those with bad or no credit at all.

Continue reading to check your options!

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How to find the best student loans for bad credit scores?

Unfortunately, many lenders require extensive eligibility criteria in the application. Regarding loans designed for students, the criteria can be as long as those found in other types of loans.

However, most students haven’t built a solid financial path because they are still young and at the beginning of their finances.

In fact, some are already struggling to manage debt due to other situations that appear throughout their way.

Fortunately, some lenders feature loans for those cases. On the other hand, it is always crucial to consider rates, fees, conditions, and terms before applying.

Especially because lending solutions that don’t require good credit usually rely on a counterpart, increasing rates, fees, etc.

In summary, know that there are good options available for those with bad or no credit. But, be attentive to your financial situation as well as the conditions offered by the lender.

These are the 9 students loans for bad credit

The list below considers accessibility, reviews, rates, fees, amounts, and terms of the best student loans for bad credit.

Before choosing, make sure the offer fits your requirements and budget. 

1. College Ave Private Student Loan

Even with a not-so-perfect credit score, you can still get the student loan you need. Source: Canva.
Even with a not-so-perfect credit score, you can still get the student loan you need. Source: Canva.

Regarding private loans, College Ave offers one of the best student loan experiences with a simple application, amazing customer service, helpful tools, and affordability.

To sum up, the company features different types of loans for students at low rates, starting as low as 4.74%.

Also, it was awarded for consecutive years, and you can calculate your loan online while prequalifying with no impact on your credit.

Desenho de pessoa usando computador e logo College Ave Student Loans

How to apply for the College Ave Student Loans?

Get a loan designed for you at College Ave Student Loans! Learn how to apply for it!

2. Ascent Non-Cosigned Student Loan

Ascent offers a discount on rates with autopay and up to two years of forbearance.

In addition, there is no origination fee.

As the name says, there is no need for a co-signer. The company also offers other types of loans with other requirements.

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3. ISL Private Student Loan

If you want to save on interest previously graduating, ISL is worth considering.

This nonprofit lender offers prequalification and refinancing options without needing a degree.

Although the rates vary depending on the product you apply for, they are low and affordable for people with bad credit and one of the best student loans.

Plus, it features a good forbearance policy.

4. Federal Direct Subsidized and Unsubsidized Loans

Federal Direct Subsidized and Unsubsidized Loans are fantastic options as the best student loans for bad credit or no credit.

The loan terms can vary from ten to 25 years, and the rates are fixed, starting as low as 4.99%.

Moreover, there are several repayment plans and forgiveness options available, as well as graduate and undergraduate borrowers qualify when it comes to Unsubsidized Loans.

5. A.M. Money Private Student Loan

One of these loans will certainly suit your needs and fit your budget! Source: Canva.
One of these loans will certainly suit your needs and fit your budget! Source: Canva.

On the other hand, if you want a private option, A.M. Money is worth checking. 

This lender doesn’t charge late fees, and the rates start as low as 7.53%, making it one of the best student loans for people with bad credit.

The borrowers qualify for the loans based on their educational path and GPA, similar to what happens when qualifying for a loan from Ascent.

So, there is no need to have a good credit score.

6. Funding U Private Student Loan

Funding U doesn’t require a co-signer or a good credit score. So, you can apply for a loan even if you have no credit at all.

Similar to the other lenders listed here, this company bases its decision on the borrower’s educational background.

Also, the terms are flexible and can go up to ten years with no late fees.

The rates are fixed and start at 7.49%.

7. Prodigy Finance

Now, if you are an international student, you will enjoy knowing there is one of the best student loans for bad credit that accepts your application.

Unfortunately, several international students cannot qualify for federal loans, while private lenders include extensive requirements making it hard to foreigners to apply.

On the other hand, Prodigy offers private student loans to international students without needing a co-signer.

The terms can vary from seven to 20 years, and several hardship repayment plans are available.

8. Edly Private Student Loan

Another best student loan for bad or no credit is offered by Edly, a lender that doesn’t require a co-signer.

This option is good for those who are close to graduation.

Unfortunately, it is not available in all states.

9. MPOWER Private Student Loan

Lastly, another option for international students. One of the best student loans for people with bad credit who have no one to sign up with.

In summary, this lender doesn’t require a co-signer, and it features fixed and low rates with discounts when autopay is settled.

Loans can go up to $100,000.

Recommendation: Student Loan refinance: how it works?

As shown, good options are available for students with bad or no credit. It is important to be attentive to the conditions, rates, fees, and terms, though.

Furthermore, it is essential to establish good financial planning before signing up for a loan since you will be managing a large debt for some years ahead. 

Most lenders listed above offer prequalification with no impact on your credit. So, make sure you estimate your loan before deciding to go through with an application.

Now, if you want to learn more about student loan refinance, take a look at the complete guide prepared for you to understand how it works, its advantages, disadvantages, and the differences between student loan refinance and consolidation.

student Loan refinance

Student Loan refinance: how does it work?

Learn how a student Loan refinance works so you can decide if it is suitable or not for you. Keep reading to find out the advantages and disadvantages.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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