grad plus loans or health loans

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TempleDMDKrazd

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i saw that i was awarded both stafford unsub and sub loans....but for the COA i think its not enough. does our school process the grad plus loan or do we need to go out and get it ourselves?

thanks

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You will have to apply for it yourself...it is based on credit. Basically, when you apply, you will request your remaining "need" (COA minus any other scholarships, loans, etc). According to my FA office the criteria are no 90+ day past dues on credit in past 5 yrs, no bankruptcies in past 5 years, and not defaulted on any loan. You should also be able to speak with a FA advisor to determine your remaining need.
 
According to my FA office the criteria are no 90+ day past dues on credit in past 5 yrs, no bankruptcies in past 5 years, and not defaulted on any loan. You should also be able to speak with a FA advisor to determine your remaining need.

The wording for the 90 day delinquency sounds different here:

http://studentaid.ed.gov/students/attachments/funding/PlusLoansQA.pdf

"What is considered to be an adverse credit history?

You are considered to have an adverse credit history if you are 90 or more
days delinquent on any debt or if, within 5 years of the date of the credit
report, you have been the subject of a default determination, bankruptcy
discharge, foreclosure, repossession, tax lien, wage garnishment, or writeoff
of a Federal Student Aid debt (for example, a Direct Loan or Federal
Stafford Loan)."

According to this you just can't have a current deliquency of greater than 90 days. All the other things apply to that five year window.
 
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