GRAD PLUS Questions and Answers 2007

[jimfoolery]

Should I be concerned that Transunion won't give me a credit score because they think I'm deceased? And that the deceased me owes $1200 on an old credit card?

Yikes. Well, this is the best way to make sure you aren't dead...
http://ssdi.rootsweb.com/

According to this I'm not alive or dead--I simply never existed.

I believe it only shows dead.

I have the Hypno Toad music stuck in my head now.

Oh yeah, I guess I didn't notice that it is called the "Death Index."

If you have the "angry machine" sound effect stuck in your head, I feel for you.  You'd better get it out of there, or you might go mad!

[Ersatz]

Ok, I called a ton of places and this is what I found out from each of them concerning Grad Plus loans:

Citizens's Bank of Rhode Island: Rate drops by 1% upon entry into repayment and .25% if you do automatic debit. 60 day grace period. 3% origination fee.

Academic Finance Corp: Rate drops by .25% when you enter repayment and 1.75% if you do automatic debit. 60 day grace period. 3% origination fee.

T.H.E.:  Rate drops by 1.3% when you enter repayment and .25% upon first disbursement. No grace period. 3% origination fee which is given back to you upon graduation.

Citibank: Rate drops by 1.25% when you enter repayment and .25% if you do automatic debit. 6 month grace period. 3% origination fee.

I called Access Group as well, I don't remember exactly what they said, but it wasn't as good as Academic Finance Corp so I didn't bother writing it down. I also called Sallie Mae, but they said they don't service loans for those going to Columbia.

check this out if you hadn't already:
http://www.finaid.org/loans/studentloandiscounts.phtml

table of different lenders (not comprehensive, but very good):
http://www.finaid.org/loans/plusloandiscounts.phtml

There is also another thread here that might clear up some confusion (it references back to this thread, but includes additional info since that post that is not covered in this thread):
http://www.lawschooldiscussion.org/prelaw/index.php/topic,85531.0.html

Tagging for links.

[shawsama]

northstar/the and AFC look the best to me

I hope I'm not missing something

[pipster215]

tag

[Tetris]

2.   What is considered to be an adverse credit history?
You are considered to have an adverse credit history if you are 90 or more days delinquent on any debt

I know this constitutes a "ding" on one's credit... I forgot to pay a $50 medical bill for 90 days once... one small ding like that wouldnt be enough to deny a GRADPLUS loan would it?

[Thistle]

2.   What is considered to be an adverse credit history?
You are considered to have an adverse credit history if you are 90 or more days delinquent on any debt

I know this constitutes a "ding" on one's credit... I forgot to pay a $50 medical bill for 90 days once... one small ding like that wouldnt be enough to deny a GRADPLUS loan would it?

my understanding on financial aid is that a credit score of 580 or higher should get you a grad plus

[dcforlife]

2.   What is considered to be an adverse credit history?
You are considered to have an adverse credit history if you are 90 or more days delinquent on any debt

I know this constitutes a "ding" on one's credit... I forgot to pay a $50 medical bill for 90 days once... one small ding like that wouldnt be enough to deny a GRADPLUS loan would it?

Pull your credit report; I doubt that's even on it, unless it went to collections.

You can also get pre-clearance from most GradPLUS creditors (I know Citi will run one, so will College Board) to find out for sure, and then you'll know better that anyone here could tell you.

[shawsama]

Use Northstar/THE

AFC tries to screw you like everyone else: 1 missed payment by 15 days = benefits retracted for life

[Einstein]

ok so I tried to do the pre approval for GRAD PLUS yesterday, and they turned me down.  They said that they would be mailing me the reasons why they turned me down.

They also said that a cosigner might help me situation.  My fiancee has a credit score in the 700s but has a lot of things out on her credit right now.. Would she be able to cosign even though she has a lot of stuff out on credit right now?

What should I do?  You really get screwed out of a lot of things when you have bad credit.  I just screwed up in college, and I just recently settled all of the accounts.

How can I make sure that I go to law school this Fall?!!!!

[dcforlife]

Fiancee as a cosigner should be totally fine -- they'll check her credit for the same criteria they did yours, so if she doesn't have it, you'll be OK.