With the 2018-2019 FAFSA available beginning on October 1, 2017, schools will be able to complete COD Web credit checks for 2018-2019 PLUS Loans beginning on October 1, 2017.
So how long is a credit check on a PLUS Loan good for?
Credit checks are good for only 180 days from date the credit check was performed. If more than 180 days has passed between the date the credit check was conducted and the date the Direct PLUS Loan origination record is processed, a new credit check will be conducted. Therefore, it is important for schools to carefully consider the timeframe between completing a COD Web credit check and Direct PLUS Loan origination record processing for the 2018-2019 Award Year. This applies to both Parent PLUS and Grad PLUS Loans.