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Is each school loan inquiry a hard pull?

Azza
Regular Contributor

Is each school loan inquiry a hard pull?

Hi there. While shopping for student loans, will each check be a HP on my CR?

 

If so, I am not very excited about a half dozen HPs, lol. Thanks o/

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Message 1 of 6
5 REPLIES 5
calyx
Super Contributor

Re: Is each school loan inquiry a hard pull?

IIRC - Federal student loans do not have credit checks.

F8 EQ: 802 | EX: 779 | TU: 791 | Accounts: 0/6 2/12 6/24 | Reporting: AZE8
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 2 of 6
pizzadude
Moderator

Re: Is each school loan inquiry a hard pull?

That's my understanding as well, most federal student loans don't require a credit check. 

 

If you're shopping for private student loans, then yes they will pull your credit. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 6
yoshee08
Valued Member

Re: Is each school loan inquiry a hard pull?

Student loans are similar to auto loans and mortgages. If some within about a 14 day window, they will count as one inquiry.

Current Score as of 04/14/2022:

Inquiries from 24/12 months as of 05/16/2022:
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Message 4 of 6
Duke_Nukem
Established Contributor

Re: Is each school loan inquiry a hard pull?


@calyx wrote:

IIRC - Federal student loans do not have credit checks.


Direct PLUS loans (for Graduate or Doctorate students) do require a credit check, but the undergrad loans don't require a HP.

 

My DD and her husband get hit with a single HP on 1 of the CRA's (can't remember which one, but I believe it is EQ) every Summer for their upcoming year in their doctorate programs.  That one HP is good for all loans that entire scholastic year.


Message 5 of 6
calyx
Super Contributor

Re: Is each school loan inquiry a hard pull?


@Duke_Nukem wrote:

@calyx wrote:

IIRC - Federal student loans do not have credit checks.


Direct PLUS loans (for Graduate or Doctorate students) do require a credit check, but the undergrad loans don't require a HP.

 

My DD and her husband get hit with a single HP on 1 of the CRA's (can't remember which one, but I believe it is EQ) every Summer for their upcoming year in their doctorate programs.  That one HP is good for all loans that entire scholastic year.


Thanks for the clarification!  My mind always defaults to undergrad.

F8 EQ: 802 | EX: 779 | TU: 791 | Accounts: 0/6 2/12 6/24 | Reporting: AZE8
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 6 of 6
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