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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 5
4 REPLIES 4
calyx
Super Contributor

Re: Is each school loan inquiry a hard pull?

IIRC - Federal student loans do not have credit checks.

F8 EQ: 807 | EX: 785 | TU: 790 | Accounts: 1/6 3/12 6/24 | Reporting: AZE8
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 2 of 5
pizzadude
Moderator Emeritus

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 5
yoshee08
Established 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 04/20/2021:
Inquiries from 24 months as of 04/20/2021:

Current cards in order of approval


Message 4 of 5
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 5
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