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- May 28, 2012
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Hey y'all, I am proud southern mother of a son who is about to go to medical school but I had one question about Grad Plus loans. My son has a medical collection and was rejected a grad plus loan I was thinking about co-signing the loan.
Just one thing though, when he was in undergrad I took out a parent plus loan which defaulted due to a mix up with different lenders and just last year in September I rehabilitated my loan instead of consolidating since I was told its the better option credit wise. My question is, will it still be regarded as "adverse credit history" and prevent me from co-signing on his grad plus loan even though I rehabilitated. On my Credit report it does not say "collection paid" but says account "closed or "transferred."
Thank you for any advice.
Just one thing though, when he was in undergrad I took out a parent plus loan which defaulted due to a mix up with different lenders and just last year in September I rehabilitated my loan instead of consolidating since I was told its the better option credit wise. My question is, will it still be regarded as "adverse credit history" and prevent me from co-signing on his grad plus loan even though I rehabilitated. On my Credit report it does not say "collection paid" but says account "closed or "transferred."
Thank you for any advice.