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I am thinking of applying for Graduate Student Loan Plus and I have a couple of questions that I would really appreciate if anybody could answer.

1. Due to my adverse credit history I know that I will need a cosigner. My cosigner had an 90+ past due 2 years ago on his credit history but has also settled that about 2 years ago. Will he be able to cosign for me due to currently having no defaults?

2. If approved will my student Grad Plus Loan show on his credit history as well? (I am asking because I would like to know if my cosigner would be impacted in any way as long as I am current on my payback)

3.Can I fill out the cosigner addendum right away with my application, or do I first have to be rejected on my own before I can reapply with the cosigner?

Thanks to all who respond !

1) If it has been settled, I don't think it will affect anything. Especially from 2 years ago.
2) Yes. That's the point of a co-signer. If you default, they are responsible.
3) Not sure.

Hello. I was in a similar situation. I had not so great credit, however, I applied and after being initially rejected, I was approved upon appeal. If I were you, I would try to get approved on my own first. Unless you have a fresh bankruptcy or judgement or something like that, I doubt that you would be denied. In fact, I had a judgement on my credit report that had been satisfied, and I also had a few open collections, and I was still able to take out a considerable amount in Grad Plus loans to cover my tuition and living expenses this year without a co-signer, and trust me, I do not have A-1 credit at all! I would only use a co-signer if I absolutely had to.

Just my two cents.

I actually am worried about this as well. I have had to take on a bit of credit card debt due to having to provide for my family and I'm worried this will have a negative effect when applying for Grad Plus loans. I don't have anything negative on my account though, and everything has been paid on time every single month.