Question about Credit

[coincidental]

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Hi guys,

So, I have a brief, and possibly stupid question, but I thought I'd throw it out there. There was a discussion a couple weeks ago about the impact of bad credit on financial aid. However, what happens if you don't have _any_ credit? I've always kept my money in debit accounts because I'm an absentminded financial klutz (would I lose/forget a credit card bill? uh-huh), so I have no credit history. So, assuming I know nothing about finances, what does this mean?

 

[ravi]

Hi guys,

So, I have a brief, and possibly stupid question, but I thought I'd throw it out there. There was a discussion a couple weeks ago about the impact of bad credit on financial aid. However, what happens if you don't have _any_ credit? I've always kept my money in debit accounts because I'm an absentminded financial klutz (would I lose/forget a credit card bill? uh-huh), so I have no credit history. So, assuming I know nothing about finances, what does this mean?

hard to get private loans, but you will get $38,500 from stafford loans

 

[Supercluster]

yeah, you might need a co-signer for private loans, but then again you sometimes need one even if you have okay credit. No credit is definitely better than bad credit though.