Student finance is not easy to come across. It is even harder if you are a student that suffers from bad credit. Bad credit can be caused by a CCJ, a bankruptcy or failure to pay off previous loans on time.
It means that prime lenders such as high street banks like Barclays and HSBC are unlikely to want to give a poor credit student a loan for fear that it will never get paid back.
Student Finance for bad credit students
Options available for direct bad credit student finance are quite limited. The bad credit borrower will have to look a little bit lower down the food chain, that’s to say lenders that will charge higher interest rates to lend to undesirable borrowers.
Such lenders will be reluctant to part with their money for the long term and the duration and the size of the loan is likely to be quite limited.
Being a bad credit student will really make it difficult to get the finance necessary to get on an undergraduate or post graduate course.
