Students often have fears about college. Fears such as whether or not they will be accepted, or once in college to be able to continue going. These fears often stem from the possibility they won't have enough money to pay for college.

And unfortunately, many students can't get funds for college because they have no credit history. Oftentimes their parents have a bad credit rating, which also hurts when trying to get a loan.

What can help these students is something called bad credit student loans. These types of loans are often easier to acquire than other kinds of loans, for families with credit problems. But there are a few drawbacks with these loans.

But before checking out loan possibilities, a future college student should first look into trying to get a grant. Families with lower incomes can typically get one. Students in this situation, who can't get scholarships and don't have enough money for college, often look to grants for help. The problem with grants is that they rarely pay for even one semester of school.

So students need to look to loans as the answer to pay for all their schooling. Bad credit student loans are easier to obtain than other types of loans, because lenders know the money will be strictly used for education. Unfortunately these loans come with a higher interest rate too. This shouldn't be a barrier to students though, if they are positive a college education can provide them with a tremendous opportunity for a great future life. The higher interest rate may be, in the long run, a small price to pay compared to not getting a degree. But that's up to the student to decide.

The good news is, most of these loans have good flexible repayment terms, so students can better pay back the loan once they are gainfully employed after college is over. So that's an advantage with getting these types of loans.

But what if the student has no credit history at all? Could that student get a loan? Usually in those cases, a parent or guardian might need to cosign for the loan. In cases like that, the cosigner doesn't need to have great credit either, but will be responsible once the loan becomes due. I suppose for that reason some parents might be reluctant to cosign. The student will have to be sure to be diligent when paying back the loan (which they should be anyway, with a cosigner or not).

All in all, there are a lot of things to consider before students apply for bad credit student loans. Just like all loans, future college students and their parents need to discuss the pros and cons.