Single Mother College Loans – Bad Credit Money Assistance to Further Education Available in June 2011
Posted on | June 3, 2011 | Comments Off
There are many people who are looking for help when it comes to going to college and there may be assistance available. Some hard working single mothers are seeking college loans as they want to further their education and help to make the lives of their children much better. When it comes to bad credit money assistance remember that there are many options available in June 2011.
By contacting the student financial aid department at a particular university or college many single mothers will find out a great deal of information. Student aid assistants often have quite a bit of knowledge when it comes to gaining access to financial assistance to go to school and further an education.
When individuals have very bad credit it can sometimes be the case that loans have a very high interest rate. The general rule of thumb is that a credit score above 720 is considered very good and lenders will be more than willing to help individuals gain access to low rates when they have a credit score above this level.
For borrowers with a credit score below 650 it is often very hard to lock in to the lowest possible rates. Even though this is true it is important to remember that student loans can often have low rates due to the fact that these lenders consider borrowers less risky as they are furthering their education and will likely make more money over the course of their life.
By making more money over the course of their life there is a better chance that they will be able to pay these loans back. There are also many government websites that should help when it comes to gaining access to student aid. A great place to start is FAFSA.ed.gov as this particular website has helped millions of people gain money access to go to college.
Author: Heather Best