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New Contributor
Posts: 72
Registered: ‎06-27-2014
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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 756, TU 740, EX 734
AMEX BCE $10k, Sallie Mae Mastercard $3.8k, Chase Freedom 2.5k Capital One Secured $801, Kohl's Charge $700
Valued Member
Posts: 44
Registered: ‎03-12-2008
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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

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Posts: 5
Registered: ‎07-10-2014
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Re: Inquiry for federal student loan?

Sure don't. I got... a lot... in college. :smileyindifferent:

 

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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New Contributor
Posts: 72
Registered: ‎06-27-2014
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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 756, TU 740, EX 734
AMEX BCE $10k, Sallie Mae Mastercard $3.8k, Chase Freedom 2.5k Capital One Secured $801, Kohl's Charge $700

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