12-04-2012 12:05 PM
Hello Fico Community,
Can anyone shed any light on applying for Grad Plus Loans? Are they based on score alone or presence of Lates? My EQ is 667 TU? EX? I have 120+ days Lates from BOA short sale from 7/2012 - The short sale is now settled. I have no other derogatory info on my credit. Im just wondering if it is even worth it to apply, I don't want to be turned down if GradPlus loans are based on presence of derogatory info such as lates. My school loan admin says is based on the lender, your score and whatever they feel is credit worthiness. I know this forum has a wealth of knowledge, so can anyone help?
Please and Thank you!
12-04-2012 04:01 PM
Here’s a quick overview of Direct PLUS Loans:
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO