Can I receive a Federal Direct Stafford or PLUS Loan if I have bad credit/declared bankruptcy/have late payments on credit cards?
A credit check will be done to qualify for a PLUS loan. Approval is based on the borrower’s good credit standing alone. No debt-to-income ratio is calculated or proof of employment is needed. The borrower must be considered creditworthy and be clear of any adverse credit history or bankruptcies. Credit is not required for a Federal Direct Stafford Loan.
Related Questions
- I don need the entire Federal Direct Stafford (or Direct PLUS) Loan amount thats been approved. How can I reduce the loan amount?
- Can educational loans, such as the Federal Stafford, Federal PLUS, and private loans, be discharged through bankruptcy?
- Can I get a Stafford Loan if I have bad credit/declared bankruptcy/have late payments on credit cards?
