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In October 2011, the department changed it`s underwriting criteria.

In October 2011, the department changed it`s underwriting criteria.

Charge-off records and reports in collections within 5 years, when they was not paid back, would now count against candidates for PLUS loans.

The alteration ended up being made quietly -- the division didn’t convene a rule-making panel or issue a page to universities describing it -- nevertheless the effect ended up being dramatic, Kantrowitz stated. Some creditors will place records in collections in case a re re payment is just thirty days late.

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