Student Loans Bad Credit!

[amclaughlin42]

I've been on the building credit board. For the past 5 months, I have had alot of late payments. But I am going to need student loans. I am not going to qualify much of any type of scholarship or grant because my GPA is only average because of the struggle I had in community college...

My GPA is 2.7. I am a step father, and we are low income. I am trying to fix my credit but I don't know if I can do it fast enough for student loans. My MIL has offered to co-sign if I need a private loan, we were hoping to get student loans to help with Cost of Living while attending school. I am still planning on working. My wifes lawyer advised her not to work while in the middle of a child support case. 

I wil most likely need private student loans in addition to public student loans. I don't qualify for many grants and scholarships. I wasn't involved in extra curriculars in community college or high school. I did have 4.0 GPA in high school and a Composite of 27 on my ACT. But Community college I struggled due anxiety, depression, and lack of support system. 

I know all this affects scholarships and grants. Which affects how much student loans I will need. I decided to go back to school instead of looking for a 2nd job.

Now for my Credit...

EQ: 456

TU: 458

EX: 480

I understand how truly awful this is. I lost my job at a very bad time in October we couldn't pay our car payment which was $450 at the time. But family helped us out bought our car and now we are paying them back at a much lower interest rate. So my Auto Loan is not in my name. So no need to truly worry about it. I cannot get my car any lower its $200 a month currently. 

Now as far as the rest of my credit goes. 

Personal Loan: Which was used for legal fees - $3300 is the balance, 29 installments to go - $115 is the minimum payment

Discover : Balance: $4300 $4500CL Minimum Payment: $87 We are currently paying $100 a month

Capital One Secured: Balance: $40.01 - $200 CL Card will be canceled as of 02/04/2017

Captial One QS: Balance: $596.00 - $500CL Card will be paid off at the end of february early march -- We are not canceling it. It has high interest but it doesn't take affect until February. Has Gas Perks. Leaving it Open for now. 

BRU/TRU Mastercard: Balance $2300 - CL$2000 - Minimum Payment due - $600 I really don't know how we are going to fix this one. We are getting $1500 back of income taxes at the end of february our car needs new tires. So we don't know for sure what we're doing. 

Simply Mac/Synchrony - Balance: $1241 CL$1500 Minimum Payment due - $215 I am calling tomorrow during business hours to work on payment arrangement I will pay atleast $100 tomorrow. 

Target Red Card in Collections that is Charged off. $530

WOW Cable $500 but I could get this lowered possibly by returning equipment.

How will this affect student loans?

Is there anything I can do now to improve my student loan chances?

I am getting $1500 back in taxes - $400 is going for new tires on my car. 

$600 is going to my Capital One QS

I have $500 I was orginally going to pay off the target card, but its charged off so I would rather bring another account to current. 

Any advice?

[Anonymous]

Federal loans do not check credit. Private do, sounds like you'll need to try and take minimum amount of classes to qual for federal loans and work 3/4 to full time to pay for living expenses. Any way to stall another semester until your wife can start working again? The worst thing you can do is stack more debt onto your current portfolio.