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  1. #1
    Join Date
    Dec 2013
    Posts
    835

    Default Will Entering a Debt Settlement Program Affect Student Loan Eligibility

    My question involves collection proceedings in the State of: Ohio

    I am asking this on behalf of a friend. She is thinking about going to school, and entered into a debt settlement program about 4 months ago. Everything is going well on the program and one of the debts has already been settled. Her credit score has taken a hit though and is hovering around 600.

    Assuming there aren't any addition factors that would disqualify her from obtaining federal student aid, would her being in this program disqualify her? If so, would she still be disqualified when she finishes the program in another 20ish months?

  2. #2
    Join Date
    Mar 2013
    Posts
    17,788

    Default Re: Will Entering a Debt Settlement Program Affect Student Loan Eligibility

    The question is way too general.

    Your friend should be asking whatever source of money she will contemplate.

    However, it does not appear that a credit score is considered for the following:

    http://www.loan.com/student-loans/fe...uirements.html

    https://studentaid.ed.gov/sa/eligibility/basic-criteria

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