Are Graduate Loans With Poor Credit Approved for Less Money?
My son was recently approved for his first student loan. We were very pleased to find out that he was eligible for graduate loans poor credit. However, after speaking to a few of his friends, it turns out he was approved for $1000 less than they were. They are all just starting college, with no previous college hours, so one would assume they all would be approved for the same amount. Is it possible that student loan companies do base the amount you are eligible on as to how high your credit score is? My son does have a credit card that he has gotten behind on the payments for in the past.
