<p>I have a student loan (went back to school) It is up to date but was delinquent back in 2002. I need to apply for a Plus loan for my daughter (20000) and am woried about approval.Anyone have experience with this and any options.</p>
<p>thanks</p>
<p>PLUS requires a credit check. If you do not pass the check, you can get a cosigner & see if that works. If you don’t want to do that, your D will be eligible for an additional $4000 unsub loan.</p>
<p>If your student loan is up to date now, I don’t think that will have any impact … but I don’t know that for sure.</p>
<p>From [Student</a> Aid on the Web](<a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding]Student”>http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp?tab=funding)</p>
<p>Also, your parents generally will be required to pass a credit check. If your parents don’t pass the credit check, they might still be able to receive a loan if someone, such as a relative or friend who is able to pass the credit check, agrees to endorse the loan. An endorser promises to repay the loan if your parents fail to do so. Your parents might also qualify for a loan without passing the credit check if they can demonstrate that extenuating circumstances exist. You and your parents must also meet other general eligibility requirements for federal student financial aid.</p>
<p>From [FinAid</a> | Loans | Parent Loans](<a href=“Your Guide for College Financial Aid - Finaid”>Parent Loans - Finaid)</p>
<p>Eligibility for the PLUS loan depends on a modest credit check that determines whether the parent as an adverse credit history. An adverse credit history is defined as being 90 or more days late on any debt or having any Title IV debt (including a debt due to grant overpayment) within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off. The Ensuring Continued Access to Student Loans Act of 2008 extended the 90 days late threshold to 180 days for mortgage payments and medical bill payments during calendar years 2007 through 2009. </p>
<p>Good luck!</p>