grad+ question

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anjmissy
Posts: 280
Joined: Tue Apr 13, 2010 9:40 am

grad+ question

Postby anjmissy » Sun Mar 25, 2012 2:09 pm

So I just saw my financial aid package and I'm about to apply for the grad plus..question..3 years ago I had 3 accounts (credit cards and store cards) go into collections, altogether less than 2k in debt..I paid the agreed upon payment and the accounts are closed..since these accounts are closed I should be good for getting the gradplus right? When I pulled my free credit report (experian) it only shows these 3 accounts as possibly negative, whereas all of my other accounts are in good standing with no late payments

Thanks

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Jaeger
Posts: 391
Joined: Tue Jan 31, 2012 5:30 pm

Re: grad+ question

Postby Jaeger » Mon Mar 26, 2012 12:32 am

anjmissy wrote:So I just saw my financial aid package and I'm about to apply for the grad plus..question..3 years ago I had 3 accounts (credit cards and store cards) go into collections, altogether less than 2k in debt..I paid the agreed upon payment and the accounts are closed..since these accounts are closed I should be good for getting the gradplus right? When I pulled my free credit report (experian) it only shows these 3 accounts as possibly negative, whereas all of my other accounts are in good standing with no late payments

Thanks


You'll probably still be good to get loans (though possibly at a higher rate of interest). The accounts are likely viewed negatively as at best they likely show SIF (settled in full).


Also, stop buying shit.

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anjmissy
Posts: 280
Joined: Tue Apr 13, 2010 9:40 am

Re: grad+ question

Postby anjmissy » Mon Mar 26, 2012 12:59 am

Why a higher rate?..the grad plus is fixed at 7.9 so it should be the same..and yes I have stopped my spending habit, this was during my freshman year of undergrad and I have financially matured since then

Jaeger wrote:
anjmissy wrote:So I just saw my financial aid package and I'm about to apply for the grad plus..question..3 years ago I had 3 accounts (credit cards and store cards) go into collections, altogether less than 2k in debt..I paid the agreed upon payment and the accounts are closed..since these accounts are closed I should be good for getting the gradplus right? When I pulled my free credit report (experian) it only shows these 3 accounts as possibly negative, whereas all of my other accounts are in good standing with no late payments

Thanks


You'll probably still be good to get loans (though possibly at a higher rate of interest). The accounts are likely viewed negatively as at best they likely show SIF (settled in full).


Also, stop buying shit.

User avatar
Jaeger
Posts: 391
Joined: Tue Jan 31, 2012 5:30 pm

Re: grad+ question

Postby Jaeger » Mon Mar 26, 2012 1:23 am

Didn't notice you were talking about grad+ (even though in the title). Haha.




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