Settling CC Debt while in school
Date: Wed, 02/25/2009 - 08:41
Settling CC Debt while in school
I have debt on 3 CC cards, and I have to stay current until I receive student loans around August. They don't check credit score for federal loans, but your credit cannot be 'adverse' (90 days delinquent in the past 5 years).
I was wondering if it would be advisable to settle the cc debt while I am in my first year of school (before my second year when I would be required to apply for loans again).
Thanks!
Steven
I was wondering if it would be advisable to settle the cc debt while I am in my first year of school (before my second year when I would be required to apply for loans again).
Thanks!
Steven
Also, I would like to remain open to private loans in the first
Also, I would like to remain open to private loans in the first year, in case they are needed.
Quote:" but your credit cannot be 'adverse' (90 days delinquent
Quote:
" but your credit cannot be 'adverse' (90 days delinquent in the past 5 years)." |
Federal aid has no credit requirements period....doesnt matter if you had 100 90 days lates. Plus Loans and Grad Plus loans are the only fed loans that follow any credit rules.
finaid.org/loans/gradplus.phtml Yes, I was referring to the G
finaid.org/loans/gradplus.phtml
Yes, I was referring to the Grad Plus:
Eligibility. Eligibility for private education loans typically depends on your debt-to-income ratio and FICO score. Eligibility for the PLUS Loan does not depend on these factors. You can get a PLUS loan even if you have a bad credit score, so long as you don't have an adverse credit history (i.e., no more than 90 days late on any debt and no defaults, bankruptcies or other adverse action on any Title IV debt).