Looking for info on the PLUS loan. What scores are needed as a parent?
FICO's now are 714(TU), 699 (Equifax) and 656 (EXP). These are the "real" Fico scores

One unpaid charge off on the three reports dating back to January 1999.
I think the reason the FICO scores are relatively high is due to the fact that I have disputed the details on the CO with the original creditor, and I believe that FICO takes that into consideration for scoring purposes. Please correct me if I'm wrong on this

Thanks for any assistance
Jimbob

Jimbob -

I have no personal experience with PLUS loans. Could you perhaps call the lender and ask for their criteria? I wouldn't think you'd have any trouble, but I do know that they check credit for PLUS loans.

Thanks for the feedback. That's a good idea
Jimbob

Jimbob -

I found this link for you that discusses credit criteria for Direct PLUS loans. Hope it helps...

http://www.ifap.ed.gov/sfahandbooks/doc039..._bodyoftext.htm

In summary for other posters who may read this, they do check credit for Direct PLUS loans. You can't get a Direct PLUS loan if you have adverse credit, which they define as:

-- any current 90 day (or more) lates
-- any foreclosure, CO, bankruptcy, repo, garnishment, or tax lien within previous 5 years
-- any default on previous student or PLUS loans

You can qualify for Direct PLUS if you have no credit history. If you have negative history (per the definitions above), you can get a co-signer.

Jimbob, you said your unpaid CO was from Jan 99, so you may well qualify. They don't seem to look at the scores themselves, simply for the types of negative entries that I listed.

Excellent
thanks so much