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Are the loans made through Marketplace and NYHELPs based on the borrowers and cosigners credit score?

April 26, 2017based borrower Cosigner Credit score Loans Marketplace nyhelps

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Are the loans made through Marketplace and NYHELPs based on the borrowers and cosigners credit score?

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Yes, for the purpose of NYHELPs, loans are made based on the non-student borrower’s and cosigner’s credit score as well as other credit and program factors. In addition, the number of loans cosigned by the same individual will have an effect on that individual’s credit score.