The Federal Graduate PLUS Loan is a federally guaranteed and regulated loan that allows graduate or professional students to fund the entire cost of attendance, less awarded aid. Allowable costs include: tuition, room and board, fees, books, supplies, and other related expenses the financial aid office has set for their institutional budget, in accordance with federal guidelines. To apply, check your school's web site for an electronic application. Our lender name is: BONY Trust Co. for College Solutions Network (Lender ID: 834158).

Eligibility Requirements for Graduate or Professional Student Borrowers:

• U.S. citizen or National.
• Enrolled at least half time and maintaining Satisfactory Academic Progress, as determined by the school.
• Not in default on any federal education loan.
• Do not owe a refund on a Federal grant, unless satisfactory payment arrangements have been made.
• Must file a Free Application for Federal Student Aid (FAFSA) prior to applying.
• Must have applied for the maximum annual loan eligibility under the Federal Subsidized and Unsubsidized Stafford Loan program before applying for the Graduate/Professional PLUS Loan.

Credit Requirements: This is a credit-based loan only. Your income, debt, credit score, and assets are not factors for approval. The following negative credit items are cause for denial:

• Any unpaid judgment, tax lien, repossession, charge-off, or collection item (regardless of amount).
• Any delinquent account in excess of 90 days past due.
• Any two delinquent accounts in excess of 60 days past due.
• Any loan default, foreclosure, or repossession.
• Accounts settled for less than the full balance are still considered charge-offs.

Repayment: Graduate or Professional students will automatically be placed into deferment until enrollment drops below half-time status or at graduation. The standard repayment period is 10 years; however, those that have borrowed more than $30,000 can request an extended period of 25 years.

Denial Options: If you are denied approval, the following options are available:

1. Obtain a co-signer and complete the Endorser Addendum Application^* to submit to the guarantor. This will likely be the quickest method for approval if there are time constraints and/or you cannot clear your credit issues.
2. If you are a parent borrowing for your dependent student, submit the denial letter to the school's Financial Aid Office to increase your student's Unsubsidized Stafford Loan eligibility.
3. Request reconsideration by submitting a written request to:

   College Solutions Network
   PLUS Reconsideration
   33 Bassett Lane
   Hyannis, MA 02601

   Note: it generally takes 7-10 days before the copy of a credit report reaches Ed-Invest's PLUS Loan Reconsiderations department at College Solutions Network. Any supporting documentation regarding a negative credit report item should also be sent with the appeal. If there is a negative credit listing of $500 or less, you can submit an explanation with the appeal. If the listing is for $500 or more, a letter from the creditor must be submitted for reconsideration.

Suggested Planning Hints:

• Obtain annual credit reports from the three credit bureaus. In many cases, borrowers are not aware of a derogatory credit listing because the reporting entity did not pursue collection efforts, primarily due to the size of the collection item.
• Contest negative listings directly with a creditor to either have the listing removed from the credit bureau(s) or obtain a letter from the creditor acknowledging the debt has been resolved. A creditor's request to have a placement removed from your credit report may take several weeks to process by the credit bureau(s), so if time is a factor, obtain a letter from them to submit with the appeal form.

Equifax

Address:

TransUnion LLC
Consumer Disclosure Center
P.O. Box 1000
Chester, PA 19022

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