graduate plus loan

[canal]

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I have never needed a cosigner for my plus loan but was recently denied. A few months back there was an error on my credit report that put two collections into my CR. I have contacted the CA and the credit bureau and they have made the corrections. I just checked my CR and the derogatory report is in fact removed and my credit score has jumped up again. So, could this have been the reason for my loan being rejected? I am going to contact sallie mae on Monday but I am afraid they won't do a recheck ( if that was the actual problem in the first place ) and require a cosigner. Any advice would be great.

 

[GeraldMonroe]

That's correct. For PLUS loans, your credit score doesn't matter, but you cannot have any negative actions on your credit report. As a matter of fact, Sallie Mae cannot deny you a loan unless you have some disqualifier such as a negative event on your credit. If you have been able to clear it, that's that : they cannot deny you the loan unless they are not making loans to anyone due to a shortage of money. Please keep that in mind when you talk to them, as they cannot use false information in your credit report against you if your credit report has been corrected. This isn't like a mortgage, where a loan officer can negotiate a deal or turn you down depending on how they feel about you as a risk.