Get Bad Credit Private Student Loans for Your College Needs



If you have bad or no credit to speak of, and you are desperate to get a private college loan, where is the best place to go especially for an emergency financial requirement?

If you have a bad credit, then definitely you have to go through the bad credit school loans providers as they cater to those with less than credit going with your loan application. Just like somewhat easy it is to get a lending company to provide refinance bad credit mortgage cash out, a lot of lenders are also more than willing to provide you will loans despite poor credit score.

Actually, you are not alone. There are thousands of student like you with less desirable rating. The best way to go to is a loan company that specializes in providing bad credit private student loans. Such company works out to help you in acquiring private student loans for bad credit.

Bad credit private student loans is the most logical option for you to consider, as indeed your opportunities for getting financial help is limited. However, you must be aware that the interest rate for this type of private college loans is rather high. Still you can opt to pay until after you have finished your college.

Why defer payments of private student loans for bad credit? Precisely, it is because the ample time will allow you to create or make better a bad rating. Hence, you will be able to get a good deal in terms of student loan consolidation, making your payment responsibilities a lot lighter.

Borrow against your 401K and The Superbowl

Because of weather, the January 29th workshop at the Moline Public Library in Moline, IL has been rescheduled twice. We will be having the workshop on Tuesday February, 12th at 7pm. It is still at the Moline Public Library. Thank you to the staff over there for being so flexible.

In this months issue:
  • What to consider when you are thinking about borrowing money from your 401k to pay for your student's college education. 401k loans are very different animals when compared to your home loans, credit cards, auto loans, and education loans.
  • Webinars will soon be provided by College Financial Strategies.
  • Just for grins... my favorite picks of the SuperBowl commercials.
Does it make sense to borrow from your 401k to pay for college?

This is a common question I receive. My standard answer is "no". Here's why...

Your student has much more time to prepare for their retirement, than you have to prepare for your's. I know we all want to provide our students with the best possible opportunities, but bankrupting your retirement is not the way to do it. Don't worry, your student will have over 40 years of time to pay off their education and save for their retirement. How much time do you have as their parent? 20 years? Maybe?

The costs of borrowing out of your 401k are much greater than the interest rates. You also have the opportunity costs of your missing returns.

Depending upon what the interest rates and administrative costs are on your 401k loan, you could be looking at some very substantial losses when borrowing. The cumulative impact is much more than what you would have with more traditional types of financing such as home equity or education loans.

Webinars Coming Soon!

Keep watching CFStrategies.com. We will be announcing soon about our new Webinar schedule. This will allow us to better serve people all across the country. Our first webinars will be our Money and College presentation, and the new Student's Goal & Passions Workshop.

Just for Grins...

Ok, just for the heck of it. Last Sunday was the Superbowl. It was one heck of a game. This was one of the few years I had just as much fun watching the football as I did the commercials. That said, here are my favorite commercials.

Diet Pepsi Max...


Bridgestone tires...


SOBE...


And Audi pays homage to The Godfather...


I just get a kick out of those.

We're splitting up the newsletter. Look for the College Profiles mid-month.

Non-Teri Student Loans

If money is really an issue when pursuing college, you can always go for private college loans. One of the common types of loan that you can acquire is the non-TERI private student loan.

However, it must be emphasized that non-TERI private college loans are actually acquired based on the credit history of the borrower. This type of private loan is different from other loans such as the Stafford loans as well as the Perkins Loans, both of which are non credit-based, and therefore they are easier and faster to get, even for those with no good credit report to speak of.

Unfortunately, non-TERI private student loans required credit reports and so maybe more difficult to acquire. If you decide that non teri private loans are the best loans for you, then make sure that you can present a good credit rating.

Find someone who likewise possess a good credit and can willingly act as your co-signer. Inasmuch as non-TERI private college loan is a difficult loan to apply for, your having a good credit, couple with that of your co-signer will help in increasing your chances of having an approved loan application.