In October 2011, the department changed it`s standards that are underwriting.

In October 2011, the department changed it`s standards that are underwriting.

Charge-off reports and records in collections within 5 years, when they was not paid back, would now count against candidates for PLUS loans.

The alteration ended up being made quietly — the division didn’t convene a rule-making panel or issue a page to universities describing it — however the effect had been dramatic, Kantrowitz said. Some creditors will place records in collections in case a re re re re payment is just thirty day period later. Moms and dads who’d formerly been entitled to the loans found that they had now been refused. Continue reading “In October 2011, the department changed it`s standards that are underwriting.”