What are some circumstances where you would get denied a Gradplus loan?

[sallyhasanidea]

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What are some situations that would prevent someone from getting a grad plus loan?

 

[mik30102]

Only if you are actively in default with some other sort of debt. If this is the case you can rectify that and send proof that the accounts are now in good standing. I also believe bankruptcies may be an issue

 

[sallyhasanidea]

Only if you are actively in default with some other sort of debt. If this is the case you can rectify that and send proof that the accounts are now in good standing.

Would you get denied a grad plus loan if you have $50 debt on a phone bill? How would that $50 debt on a phone bill affect my credit score, and can you recover from that?

 

[mik30102]

Would you get denied a grad plus loan if you have $50 debt on a phone bill? How would that $50 debt on a phone bill affect my credit score, and can you recover from that?

Grad plus is not credit score based for approval. If your $50 bill went to collections it will show up on a credit check and you will have to take care of it. Even if it has not you should also take care of it since they will eventually send it to collections where the cost will only multiply.

 

[Donald Juan]

Would you get denied a grad plus loan if you have $50 debt on a phone bill? How would that $50 debt on a phone bill affect my credit score, and can you recover from that?

You could. And yes, you recover by paying the bill.