GradPLUS- does this mean I was approved for the full amount?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
doomed123
Posts: 156
Joined: Wed Jan 21, 2009 2:05 am

GradPLUS- does this mean I was approved for the full amount?

Postby doomed123 » Sat Jun 26, 2010 10:31 pm

I just completed the GradPLUS app online and it gave me this message:

"Congratulations your application for a Direct PLUS award has been approved.
Your application has been forwarded to the schools you selected. "

Does this mean that I was automatically approved for the full amount? Or is just confirmation that my application was processed? I'm asking because I've heard that you're supposed to received a letter telling you how much you were approved for (and also because I don't have the best credit score, so an automatic approval wasn't what I was expecting).

KBicknell
Posts: 15
Joined: Wed Jul 15, 2009 9:40 pm

Re: GradPLUS- does this mean I was approved for the full amount?

Postby KBicknell » Sat Jun 26, 2010 11:21 pm

I did not get an online approval of any type but a week after my application, I received a letter stating what you wrote without an amount listed. Today, about 2 weeks later, I received a second approval letter stating my amount which was the full amount.

klt7560
Posts: 18
Joined: Sat May 29, 2010 10:48 am

Re: GradPLUS- does this mean I was approved for the full amount?

Postby klt7560 » Sun Jun 27, 2010 3:59 pm

Yeah, it looks like you were approved. They definitely must have changed the credit requirements because I was almost sure that I would need a co-signer...

Mine gave me the same "congratulations your app. has been approved" message (mon. jun. 21, 2010). Then I received the letter (sat. jun. 26, 2010) stating that I "qualify for a direct plus loan based on information obtained in a credit report from: CSC Credit Services ..... .... ... .. the school has also been informed of our decision". I guess now I’m just waiting for my school to certify the loan amount.




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