A student loan for those with bad credit is not as bad as one may think; after all, most students don't have stellar credit to begin with. There are a vast amount of banks and private institutions that are willing to lend to students with a poor credit history, all whilst having appealing rates and terms. If you are a student with not-so-good credit, but you need to pay for those hefty tuition costs, here are some tips that you may want to consider:



* Before applying for bad credit loans that may have high interest rates, ask a friend or family member with good credit to co-sign for you. However, before signing they should be aware of the risks involved with co-signing.

* Consult with a representative from your local branch that you have a checking or savings account with. More often than not, they will lend to you regardless of your credit history - especially if you have a long history with them and a good standing.

* Consider applying for a combination loan that can consolidate existing loans while applying for an educational loan at the same time. These loans can sometimes have very low interest rates due to their nature; however you may have to acquire a co-signer in order to qualify for a lower rate.

* Before applying for any loan, find out if you are eligible for federal grants and loans. Federal grants don't need to be repaid, and federal loans, such as the Stafford or Perkins loans, have very good terms and rates. Visit the FAFSA website and fill out the application. You can also visit your university's financial aid department for more information about Stafford or Perkins loans.

* Browse the internet for deals. Often times you can find great incentive deals aimed at struggling students with poor credit. Using the power of the net, you can efficiently find and compare the best student loan to fit your individual needs. Be very careful of private institutions that trick you into getting a high interest loan. These loans can be disguised by rewards, gifts, or extremely low monthly payments.

* If you're lucky enough to be in a health major, you can apply for specialized loans for medical or nursing students. The Nursing Student Loan Program offers up to $4,000 in low interest rate loans to nursing students, with up to a 9month grace period. The Primary Care Loan Program is aimed for medical students pursuing a medical degree. This non-credit based loan offers very high loan amounts with exceptionally low interest rates, with up to a 12 month grade period.

The last thing you want to worry about when going to college is money, especially if you have bad or poor credit. Using these tips, coupled with sound money management, you can stop worrying about how to pay for your education. As always, be sure to read all the loan terms and conditions before signing the dotted line. Be responsible and manage your debt wisely.