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Credit Reports

Access to alternative educational loans has become increasingly important to many students and good credit determines who can borrow and who cannot under private educational loan programs. Recent legislation mandates that an individual may obtain a free credit report every 12 months.

Free credit reports can only be obtained at: https://www.annualcreditreport.com/cra/index.jsp, 877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.Note: You are also entitled to a free copy of your credit report if you have been denied credit within the past 60 days.

Be advised that credit criteria used to review/approve student loans can include the following:

  • Absence of negative credit
  • No bankruptcies, foreclosures, repossessions, charge-offs, or open judgments
  • No prior educational loan defaults unless paid in full or making satisfactory progress in repayment
  • Absence of excessive past due accounts, i.e., no 30-, 60- or 90-day delinquencies on consumer loans or revolving charge accounts within the past two years.

We recommend that you get a copy of your credit report once a year, paying particular attention to the number of accounts, account balances, and the timely manner in which monthly payments have been paid. Comprehensive consumer credit information on a wide variety of topics is readily available on Federal Government web sites.

If you have a credit issue that needs to be resolved or suspect that you have been a victim of identity theft, please visit the web site of the Federal Trade Commission for information and guidance.

Education Tax Incentives

See IRS Publication 970 and 553. Information on tax incentives and other issues related to financial aid can be found at www.irs.ustreas.gov.

Financial Aid Links