How good does my credit have to be to get a PLUS loan?

There is no specific credit number that will qualify you for a PLUS loan. However, you must not have adverse credit if you wish to qualify. The government defines adverse credit as that of someone who is 90 days or more delinquent on a current debt. You will also not qualify if you have had a default, discharge, foreclosure, repossession, tax lien, wage garnishment or default of a federal student loan in the past five years. If you have adverse credit, wait until your credit changes and then apply or reapply for a PLUS loan. Once the information is five years expired, you should qualify as long as your current credit report is free of delinquencies.


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