Accept your Loans
Prior to accepting your loans:
- UPDATE PERSONAL INFORMATION: Please keep your information updated at all times.
- WEB REFUND: If you would like direct deposit of your financial aid refund, sign up in UAccess (under Finances).
- CREDIT REVIEW: As GradPlus loans are credit based, please make sure to protect your credit. Review the tips and guidelines on GradPlus loans here.
Federal Stafford Unsubsidized Loan Instructions
- Please review instructions on accepting Stafford loans here.
- Once you complete each step, please allow 7 - 10 business days for your loans to disburse.
Federal Graduate Plus Loan Instructions
- Please review instructions on accepting Graduate Plus loans here.
- Once you complete each step, an automatic GradPlus application will be generated and forwarded to the Department of Education.
Approval of the Graduate PLUS Loan is subject to a credit check by the U.S. Department of Education (ED). Per the ED, these are the conditions for a Denied Credit Check:- Bankruptcy (Chapters 7, 11, or 12 within the past 5 years)
Note: Department Policy does not consider Chapter 13 bankruptcy adverse. - Voluntary surrender within the last 5 years
- Repossession within the last 5 years
- Foreclosure proceedings started
- Foreclosure within the last 5 years
- Deed in lieu of foreclosure
- Accounts currently 90 days or more delinquent
Note: Accounts currently reported, as 90 days or more delinquent, which are over 5 years old since the last reported delinquency, are not considered adverse. - Wage garnishment within the last 5 years
- Defaulted loan that has been claim paid
- Lease or contract on secured real estate
- County/State/Federal tax lien, within the past 5 years
If you are denied by ED, and you still wish to obtain a PLUS Loan, you may appeal the credit decision through ED or obtain a credit worthy endorser. You will receive a denial packet with all the necessary information to appeal or obtain a credit worthy endorser. You should pull your credit report to determine if you have Adverse Credit. See the Federal Trade Commission web site at:
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm - Bankruptcy (Chapters 7, 11, or 12 within the past 5 years)
Updated: 04/12/2012