Gather information to prepare a FAFSA. This would include your most recent tax return, school code, Social Security number and, if you are a dependent, your parents' financial information. The FAFSA provides a snapshot of your financial ability. You can estimate or disclose exact data if you already have filed a tax return.
Submit a financial aid application through your school. Assess FAFSA results, total education costs and all scholarships and grants. If you have not earned a bachelor's degree, you should qualify for a federal Stafford Loan--even with bad credit.
Apply for private education loans from banks or lenders that deal with student loans, which are not the same as personal, paycheck, title or home equity loans. Private education loans have advantages such as deferred payments while you are in school.
Use a cosigner if a private lender decides that your credit is not high enough. Usually, parents or other relatives act as cosigners because they must guarantee that they will repay the loan if you cannot. Your cosigner cannot have bad credit.
Analyze loan terms carefully, especially the interest rate and origination fees (often 5 percent of the loan amount). The loan agreement serves as a binding contract. If your school directly offers student loans, make sure that the interest rate is reasonable. Some technical schools provide student loans at 15 to 18 percent interest.