Gage ily to go to college, get his degree from the University of California at San Diego, and eventually become a cardiologist.

But then he and his parents took a look at the financial aid award. He was given a grant for a little less than $3,000. And the school, which determines how much a student can take out in federal loans, will let him borrow just $6,800.

Now, not only does Gage face borrowing more than $27,000 over four years, but his parents will need to take out about $72,000 in higher https://worldpaydayloans.com/payday-loans-ky/ interest loans.

Paying $18,000 out of pocket per year is more than his parents Stacy and Alfred Marquez can afford. On an income of less than $100,000, there’s not much left after paying the mortgage, two car payments, health care premiums, braces for their eighth-grader, and food for three boys.

The family also has high medical costs, since one of Gage’s brothers has a learning disability and the other has a heart condition — which inspired Gage’s interest in cardiology. His mother, Stacy, has stayed home to raise her boys.

The ily once had some savings put away for college. But they had to live off that money when Gage’s father, Alfred, lost his job during the recession. He’s back at work now, but earns less than he used to and he doesn’t get health care benefits.

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“We are very blessed and make a decent living, but when it comes to college we feel poor,” she said.

Financial aid award letters are typically sent out in late March or early April and most students have until ily probably wasn’t the only one surprised to find out just how much they’d have to pay for college. Lees verder →

There are many student loan options for bad credit borrowers. Learn about them here, including federal loans and private loans. ( iStock )

Many students need to borrow money to complete their education, but you may be worried about your ability to do that if you have a low credit score or no credit history.

The good news is, your imperfect credit shouldn’t deter you as there are many options for student loans for bad credit. In fact, depending on your situation, you should likely be able to qualify for federal student loans at an affordable rate as well as for private student loans either with or without a cosigner.

Where can I get a student loan with bad credit?

While it may take a little extra effort to find the loan that’s right for you, it’s worth exploring the loans available to you so a lack of financing doesn’t derail your efforts to achieve your academic goals. There are at least three loan options you can consider if you have bad credit scores.

1. Private student loans
2. Private student loans with cosigners
3. Federal student loans

1. Private student loans

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When you find yourself talking about small-term finance, cash advance and money progress are two sorts of possibilities that are utilized frequently from the users. They give candidates besides that have a quick accessibility new money lent, however they also come which have instead moderate lending requirements.

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