GRAD PLUS Questions and Answers 2007

[Thistle]

I think you can still get GRAD PLUS loans if you have past collection accounts on your credit report.. You just cannot have a current debt in collections.  As long as they are paid then you can get your loan.

i have a current debt in collections and still got grad plus.

[darlinalexi]

tag

[Einstein]

I think you can still get GRAD PLUS loans if you have past collection accounts on your credit report.. You just cannot have a current debt in collections.  As long as they are paid then you can get your loan.

i have a current debt in collections and still got grad plus.

Who did you go through to get the loans???

what type of collection account was it?  How old?  Sorry for all of the questions but they are for good reason.. 

[southernhostess]

TAG

[Einstein]

My school requires you to fill out a form that states which lender you are using..

But before I sent this in I applied using Edamerica and was denied.  

I was wondering if some lenders require your school to send them your budget before they approve you for your GRAD PLUS loans?

[wallstreet1986]

Sorry to burst your bubble but a collection does not get removed off your credit report once you pay it. I have a $59 collection from the energy company that somehow fell through the cracks when I moved out of a house in 2002 and it somehow didn't get transferred to my new electric bill. I first found out about this in 2005 when it was in collection and paid it immediately. Now its still on my credit report and will be for seven years.

Agreed.  The 40-50 point jump reflects paying off a current collections debt according to the tools provided on Experian's credit monitoring website.  The collections debt will still be on there but as I've seen with the GradPlus loans many don't want you to have a CURRENT collections debt outstanding.

[melisssasue]

Just wanted to share.  I applied for my GradPLUS loan through my schools preferred lender and was denied.  So I applied through another lender and was approved.  So you may have to try a different lender.

[knicksfan0323]

Just wanted to share.  I applied for my GradPLUS loan through my schools preferred lender and was denied.  So I applied through another lender and was approved.  So you may have to try a different lender.

Same thing happened to me..See above post. Glad you were able to get a loan   

[wallstreet1986]

Wow you guys must be more chill and less worried about getting loans than me.  To me its scary and agonizing.  Maybe I just still can't believe my luck that I'm going to a great law school and doing the career I want -- feel like some obstacle is going to strike me down along the way.

[dcforlife]

Wow you guys must be more chill and less worried about getting loans than me.  To me its scary and agonizing.  Maybe I just still can't believe my luck that I'm going to a great law school and doing the career I want -- feel like some obstacle is going to strike me down along the way.

That comes when you have to pay the loans back

Just kidding, don't worry.