Does bad credit history stop you from applying for any of those loans? Are you worried that your college dream can never come true because of this? I admit that it will be much easier to get an approval from loan companies if you have a clean and good credit rating, but it is also not impossible to get a loan if you have bad credit history.
Let me give you an example. The Stafford loan, a popular US Department of Education loan, does not consider credit rating as an essential factor in their decisions in approving student loans. They assume that any applicant is a fresh high school graduate who is off to college, and therefore does not have any kind of credit history at all. Perkins loan, a federal student loan for the most financially unstable families, also practices the same method.
Being a student and bad credit history only meet ends if you have a previously defaulted federal student loan. So, you really do not have to be hopeless in this kind of situation.
A PLUS loan is a great option if you have bad credit student loans, but your parents do not. The PLUS loan is arranged with the parents and not with you. It is there to assist the parents in covering the college expenses of their children.
Students with bad credits can try federal funding. This program is specifically designed to help students without stellar credit histories. It is not as strict with the requirements compared to other lending companies and banks.
Here is an additional piece of advice. If your application for a federal student loan was rejected, you can always try a private loan. It is the better choice if you are planning to take up a degree that has a high potential of earning much like medicine or law.