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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

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.

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.

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