Bad Credit Agency

How will consumer credit counseling affect an application for a student loan?

I want to go to college soon for a degree program. However, my credit card debt is getting the best of me, so I have been considering contacting a consumer credit counseling agency. Will student loan agencies (federal & private) not consider an application with credit counseling? How do I find out how this decision could affect my school?

Public Comments

1. From what I've been told those programs do nothing that you can't do yourself by contacting your creditors & working out a deal yourself. Also, it's about the same as filing bankraptcy or worse on your credit score. And they charge you so you have MORE debt!
2. Your credit rating and credit history do not affect federal or state grants or federal student loans. These go through the financial aid office of the school that you will be attending. Your standing in the awards process (who gets money first) is determined by the federal government. You need to go to: www.fafsa.ed.gov and fill out the financial aid application as soon as possible. You should go to college. You should also check to see it the school offers financial counseling - many students get into credit card debt, and it is becoming common for schools to offer counseling to enrolled students.