Bad credit need not stop you from successfully securing a college loan. The most common government loans, Stafford and Perkins, do not even take into consideration student's credit scores. Unless you have previously defaulted on a federal loan, getting loans for college education, even on bad credit is readily possible.
Even if you have previously defaulted on a federal loan, it need not hinder your college education and future. There are additional provisions that pave the way for students that have defaulted in the past. Foremost is the PLUS loan. which is available to parents but not to the students themselves. Under the PLUS loan program, parents are contracted to pay an obligated sum toward their children’s' college education.
Generally, government loans are more beneficial to students with bad credit, than alternative private loan programs funded by financial institutions such as banks. However, students can still apply and secure privately funded loans, even if they have previously defaulted. Banks and other private lenders will consider funding students, if they are studying high income earning disciplines such as dentistry, law, engineering and medicine.
So generally, there are several realistic options available for students with bad credit to pursue college education. If necessary, and depending on your circumstances, you can even combine both government and private funding in order to complete your education.
Even if you incur higher interest charges as a result of bad credit, loan programs allow for deferment of payment until you complete your education and start work.