I wanted to apply for a Stafford Loan, which is a federal student aid loan. Mine would be unsubsidized - because of my income - meaning the government does NOT pay interest while I'm a student. Will they pull a hard inquiry for this type of loan? Also, does this type of student loan report to the bureaus? Remember, this isn't a private, credit-based loan. EVERYBODY who is at least a part-time student working towards a degree may receive this loan. Thanks- dd
No, this should not generate an inquiry of any type. None of mine have. This is because your qualifications for a stafford loan are not related to your credit worthiness. All of mine are reported to the CRAs.
But, does the balance of your student loans work against you when you apply for a credit card or a loan? Thanks.