<p>are the loans associated with FAFSA such as the stafford loan based off your credit score? in other words do you need good credit to qualify for one of these federal loans?</p>
<p>gracias</p>
<p>You need ok credit to get a stafford loan, doesn't have to be great score. The loan rates are set each year and for that the score does not matter.
In general the student is not allowed to borrow much money. However I have one friend who during a bad year had such bad credit they were not allowed to get a parent loan. In that case the school somehow arranged for the loans to be in the student's name. The following year they went back to being a loan to the parents.
I do not know if the stafford/direct loan folks turned them down, or Sallie Mae, which is private (?) and higher rates.</p>
<p>You do NOT need good credit to obtain Stafford Loans, only Parent PLUS and Alternative Loans.</p>