Impact of Your Credit History

Most education loans – both federal and private – require a credit report from a credit bureau.  The information on your report is carefully reviewed and may have a substantial impact on your eligibility to receive Graduate Plus and private loans.  Although they are referred to as education loans, lenders view them as a special type of consumer loan.  Therefore, a potential borrower must meet the established credit criteria.  Before applying for an education loan, request and review a copy of your credit report.  Should the report reveal any negative information, contact the reporting credit bureau and creditors to see if any items in error can be corrected.

Telephone numbers for the major credit bureaus are:

• Equifax - (800) 685-1111
• Experian - (800) 397-3742
• TransUnion - (800) 888-4213

For more information about credit bureaus, or resolving problems, contact the Federal Trade Commission at (202) 326-2222.