If you're reading this, the first thing we are assuming is you've already gone through all options for financing your education with federal loans. Private loans should be the last alternative after all federal options have been exhausted. Through all the government red tape there are very distinct advantages: fixed interest rates, and Stafford loans don't even check your credit.
That said, and you're still here, we assume that your credit isn't the best; but here's the thing: you can definitely get financing, and quickly. You don't have to take the first offer dangled in front of you. Private student lending is a huge multi-million dollar business and these private lenders are out there looking for yours. Even if your credit isn't that good--sure some lenders will downright reject your application. The key is to look back-get offers from as many as possible and compare. Tell them you are comparing. Give them a chance to make a lower bid. Remember, they want your business and they will compete for it.
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Other things to remember: make sure you have all you financial information on hand and ready. Another thing is to have a co-signee with good credit, this can get you even better offers from private lenders. You should also know that student loans are viewed as low-risk, because you cannot skip from these even if you declare bankruptcy.
Sure, all these would take a little work to do; a bit of due diligence, but it's a good guide line that can be applied to everything else in life. You don't want to be paying for something many years down the road if it can be avoided now, with just a little research.
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