Will a borrower check my credit score if I apply for a federal student loan? I have heard that lenders check credit profile to decide whether to give and the rate of interest.
What you have heard is
correct. But that happens mainly for private student loans. As far as
federal student loans are concerned, you don't need to worry about
credit score or a co-signer. They are not required here. Plus, the rate
of interest on the federal student loan is also low.
If you are interested in
borrowing a federal student loan, the don't worry about your credit
score. In the case of borrowing private student loans, credit score
matters.
Well, you don't need to have a
credit score to opt for a federal student loan. In fact, you don't need
a co-signer too for taking out that loan. To opt for a federal student
loan, you need to qualify the basic eligibility criteria like
citizenship requirements, enrolment in eligible program, etc. Submit the
Free Application for Federal Student Aid (FAFSA) to start the process of
taking out a federal student loan.
Sub: #1 posted on Tue, 01/21/2020 - 02:10
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Sub: #2 posted on Fri, 01/24/2020 - 05:12
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Sub: #3 posted on Sun, 01/26/2020 - 20:25
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