It won't affect most federal aid, as Stafford loans
and federal grants are not credit-based. You should file the FAFSA as usual to see what you'll be eligible for. PLUS loans are federal credit-based loans, so it may affect your eligibility for these.
It will most likely affect your eligibility for private student loans
- banks have much stricter credit requirements for private loans. If you want to apply for any credit-based funds, it is strongly recommended that you apply with a cosigner who has good credit. This will increase your chances of approval.