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Some students, or their parents, have credit that is so bad they can't find a private student loan company willing to grant them a loan for college expenses. One last option that can be explored is to contact a lender of last resort. This is a private lender who is often more liberal in their credit granting criteria in order to make a bad credit college student loan. Information on a lender of last resort can be obtained by contacting the guaranty agency that serves your state. (You can get the contact information for the guaranty agency by calling the
|Jennifer Mathes, Ph.D.|