How will bad credit (a foreclosure) affect my ability to get loans for graduate or law school?
Question:
Answer:
It will not affect your ability to borrow federal loans for graduate education. For independent students, you are entitled to $ 20,500 a year for up to 5 years (usually and if you stay under the lifetime limit). It sucks to borrow so much but at least you'll get the education (and job) you want and you'll have the rest of your working life to pay it back. Bad credit will affect your ability to borrow private education loans. Good Luck!
While you will be able to get a loan it will be at a higher rate than if you had really good credit. try real hard not to get into any unnecessary debt and try to raise your credit score by being careful to pay your bills on time. As you know law school is not going to come cheap so buckle down and buy plenty of peanut butter and jelly.!!
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