Gradplus eligibility?

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Gradplus eligibility?

Postby jadoo » Fri Dec 28, 2012 8:47 pm


I will soon be applying for grad plus and I've just checked my credit report. My history isn't that bad, but there are a few items I am worried about. I checked equifax because that seems to be the reporting agency the government uses.

I have two negative items, neither of which is under the "colllections" tab of negative accounts. Under that section, I have no collections on file. However, under the negative accounts section, where it says closed accounts, I see two accounts.

The first, says paid and closed in 2009, which is obviously when I paid and closed that account. Since it shows paid and closed, will that impact grad plus?

The second one is a little bit more involved. It's from a collection agency called Pinnacle Collections Service. I believe this is an old verizon wireless account that I didn't pay back in 2008, but its reporting is a bit weird. It says the first deliquency was in 2008 (original verizon one) the opened the collections in April of 2011 and it says something about reported in December of 2012. This does not appear on the collections page, but on the closed accounts section of the negative accounts page. As such, will it effect my Grad plus? If so, how do I remedy it?

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Re: Gradplus eligibility?

Postby thelawschoolproject » Sat Dec 29, 2012 7:24 pm

Calling your school's financial aid office will be the best source of information.

However, based on what I learned last year, they don't base it off of a credit score. And, the only items that will hurt you are bills that are significantly delinquent (like 90 days, I believe) or if you've had a recent bankruptcy.

Here are some threads on the issue:

Grad Plus Loan Eligibility -->
Grad Plus Loan Guide --->
Getting Grad Plus -->
Truth About Grad Plus -->

Maybe some of these sites have what you're looking for, also:

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