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.