Hard inq on EQ that I don't recognize

[Anonymous]

I just checked my credit score and found I have a hard inq on EQ on 7/17/21010 from AFSA.  I have never dealt with AFSA and don't recall ever authorizing any hard inquiries recently.  I did complete a FAFSA to apply for loans for this coming school year, and I received information saying I was approved for the Grad PLUS loan.  Sorry I don't have specifics, but something I was sent led me to wonder if my credit had been pulled.  Has anyone ever received a hard pull when applying through the FAFSA?  And does completing a FAFSA give authorization for hard pulls?

[laz98]

i have definitely not ever had a hard pull from filling out a FAFSA.  is AFSA who is holding your student loan?

[Anonymous]

No, I don't even know what AFSA is.  Right now I only have a federal Health Professions Loan and both subsidized and unsubsidized Stafford loans.  My school is a Direct Federal Lender.  In the past, I was offered a Grad PLUS loan but I didn't like the terms, so I declined that one.  This time around, after I completed the FAFSA I received mail that said something like "Congratulations, you qualify for a Grad PLUS loan, blah blah blah."  Then when it came time for me to accept or decline my awards, the Grad PLUS loan was automatically accepted for the full amount.  I had a financial aid officer remove that automatic acceptance so I could then decline the Grad PLUS award.  I did nothing different this time around when completing the FAFSA.  I guess I'm assuming that this weird hard inq is due to my FAFSA application, but frankly I have no idea what AFSA is so it could be a completely different issue.  Any thoughts/recommendations?  Thanks.

[laz98]

did you look up AFSA at all???  i found a bunch of random things, but i came across american financial services association as well.

your credit report should have contact information for them, at least a phone number.  call & ask them who they are, & that you want paperwork.

[hodap2001]

AFSA is Xerox Corporation (formerly ACS). The Graduate Plus loan is based upon your credit; therefore, a credit check would've been required for you to accept the Graduate Plus loan, even if you declined. Your Financial Aid office would've told you this.

[laz98]

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@hodap2001 wrote:

AFSA is Xerox Corporation (formerly ACS). The Graduate Plus loan is based upon your credit; therefore, a credit check would've been required for you to accept the Graduate Plus loan, even if you declined. Your Financial Aid office would've told you this.

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formerly ACS???  as in ACS is no more?  i ask because we have a loan thru them, & i haven't received anything stating they are changing their name, or selling my loan, etc.

[hodap2001]

Correct, the organization is still servicing existing Federal Student Loans; however, they are currently undergoing name change and re-branding. The link is the article about Xerox buying ACS for 6.4 Billion Dollars.

http://news.cnet.com/8301-1001_3-10362542-92.html

Cheers.

[laz98]

Rats!  Just when I get used to one company......I better hurry & pay that one off then!  LOL.  Thanks for that link! 

[Tazman81]

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@laz98 wrote:

Rats!  Just when I get used to one company......I better hurry & pay that one off then!  LOL.  Thanks for that link! 

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Isn't that the truth.  It annoys me when a company acquires another and they some how "misplace" your payments.  Better to get them paid off sooner rather than later. 

[Anonymous]

You should have an inquiry if you applied for a PLUS loan as the product is a credit-based product unlike the subsidized and unsubsidized Stafford’s.   I took out one PLUS loan last year is why I know this.  Also what is interesting is that I have four inquiries from Direct Loan Servicing for student loans this semester.  That program is not credit based, so I am disputing those inquiries.  The lady with whom I spoke said they pull one’s credit to ensure proper placement of the account on the person’s credit file.