Grad Plus Loan Forum

[user08132021]

Ok quick question about something I can't find scouring the forums.

I just got in off the waitlist from my number 1 school, so now I'm scouring for information. I just applied for the GradPlus loan and received a message after I finished that said my credit was approved.
HOWEVER, I have a couple of things credit-wise that make me think that decision is a bit premature. Anyone have insight on this?

[CoriOlivia]

Scroll down and read the "Truth about GradPLUS loans" thread. It basically states that they only consider current accounts - nothing old even if it was a chargeoff, etc. It's a good thread to read if you're concerned (which I don't know why you would be if you're already approved.)

[user08132021]

Scroll down and read the "Truth about GradPLUS loans" thread. It basically states that they only consider current accounts - nothing old even if it was a chargeoff, etc. It's a good thread to read if you're concerned (which I don't know why you would be if you're already approved.)

Thanks. I figured the "approval" was just a general pre-approval. Wasn't sure if it meant I was in the clear. I keep reading horror stories about it.

[Gideon Strumpet]

Thanks. I figured the "approval" was just a general pre-approval. Wasn't sure if it meant I was in the clear. I keep reading horror stories about it.

The credit check is minimal. If you have nothing 90 days or more past due, you get an automatic pass.