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Inquiry for federal student loan?

Regular Contributor

Inquiry for federal student loan?

Wil be taking one out in the fall and was wondering if they will pull my credit. From what I have read it doesn't look like they do. Can anyone confirm this?

Current FICO Scores EQ 782,TU 755, EX 754

AMEX BCE $24k, Quicksilver $10k, Venture $13k, Sallie Mae Mastercard $8.3K Chase Freedom 5k, Discover IT $3.4k, Kohl's Charge $2.5k, Capital One Secured $801
3 REPLIES
Valued Member

Re: Inquiry for federal student loan?

No federal loans do not do an inquiry, only if you are apping for a private student loan. HTH!

Jessica

Re: Inquiry for federal student loan?

Sure don't. I got... a lot... in college. Smiley Indifferent

 

But no credit pulls. They get the information on what you qualify for with your FAFSA. However, if you do a Parent Plus loan, they will pull your parents' credit. A friend of mine funded her college that way. 

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Regular Contributor

Re: Inquiry for federal student loan?

Cool. Thanks for the help.

 

Interested to see what it does to my score. I'm sure it will lower it at first but after a few months of making payments maybe it will go a bit higher.

 

Only taking out 6k for the fall/winter semester so will be able to keep it under control. Should be about the same for the next 2-3 years. Could pay cash now but would rather have a bit more flexibility and not feel broke.

 

 

Current FICO Scores EQ 782,TU 755, EX 754

AMEX BCE $24k, Quicksilver $10k, Venture $13k, Sallie Mae Mastercard $8.3K Chase Freedom 5k, Discover IT $3.4k, Kohl's Charge $2.5k, Capital One Secured $801