charge off

[anjmissy]

So since fafsa season is coming up I did a credit report today and there is a credit card on my report that I settled with 2 years ago..but the status on the account says "closed, charged off"..I'm a bit nervous since the other 2 negative accounts on my credit say "settled, paid"..but this one for some reason have this charged off status, should I attempt to get this off or will my application for gradplus loans be ok with this..

[Tom in Ohio]

Gradplus loans are not credit score driven. There are very specific credit reasons why you would get denied, and, if you don't hit those, you're good. The reasons to get denied are: foreclosure, currently over 90 days delinquent on any consumer debt, bankruptcy (I can't remember how long you need to be out, though), and default on a student loan.