grad+ question Forum

[anjmissy]

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

[Jaeger]

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.

[anjmissy]

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

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.

[Jaeger]

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