Bad credit, a hindrance for grad admission?

In summary, your financial credit rating probably won't have a large impact on your admission to a graduate program in the sciences.
  • #1
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My financial credit rating is not the greatest. Does this play a factor in applying to graduate programs in the sciences as far as financial aid (or anything else) goes? Could I be rejected for a bad credit score? Thanks for any advice, I don't remember seeing this topic here before (maybe it's a dumb question?)

Edit: I tried googling but wasn't able to find much.
 
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  • #2
Well, usually your tuition is waived, or mostly waived in a Ph.D program and you're paid an annual stipend of around $14,000. This is, of course, if you work as a TA or RA.
 
  • #3
With regards to physics grad programs... I don't know of any US schools that require any info on your credit, if you are a US citizen. Sometimes if you are a foreign-born you must provide financial info, because tuition may or may not be waived (eg., Thai students frequently submit a form showing that the Thai gov't will support their education, so the US school does not provide tuition waivers).

Student loans are deferred while in grad-school.

Stipends can go higher depending on location, sometimes field of specialization... (in my grad school, experimental RA's were usually making more than theory students supported by RA's, who made more than those supported by TA's). As an RA, my gross annual income was over $23k, until our grant ran out of funds, when it went down to ~$19k.
 
  • #4
Thanks for the info, physics girl phd. I didn't think credit would be an issue, but it was hard to find info since googling "credit rating graduate school" and stuff like that is not effective, since credit could mean credit as in courses or as in finance. I know that a lot of employers do credit checks, and I thought maybe grad programs did the same. I'm working to fix my credit, but it will still be bad when I graduate with a bachelors.
 
  • #5
AFAIK, student loans are guaranteed by the government to be available to anyone, regardless of credit history. I don't believe any credit check was done before I received student loans back in undergraduate school. Of course, you have to divulge your SSN, but I don't think it was used for a credit check.

Your school's financial aid office should be able to answer this question better than we can.

- Warren
 
  • #6
Not to hijack this thread or anything, but I have a related question. My credit's just dandy, and I'm applying to grad schools this semester. One of my applications, however, wants me to say how much I money can guarantee towards my education right now. Having depleted my financial resources as an undergrad, and not knowing anything about fellowships yet, that number is basically zero. Will this hurt me in the application process?
 
  • #7
I don't believe any school will let financial concerns affect your admission.

- Warr
 

Related to Bad credit, a hindrance for grad admission?

1. What is considered a "bad" credit score for grad school admissions?

While there is no specific credit score that is considered "bad" for grad school admissions, most programs will look for a credit score of at least 650. However, some programs may have higher or lower expectations depending on their specific requirements.

2. Will having bad credit automatically disqualify me from getting into grad school?

No, having bad credit does not automatically disqualify you from getting into grad school. Admissions decisions are based on a combination of factors, including your academic record, letters of recommendation, and personal statement. However, having bad credit may make it more difficult to secure financial aid or loans for your graduate studies.

3. Can I still get into grad school if I have a history of bad credit but have since improved my credit score?

Yes, you can still get into grad school if you have a history of bad credit but have since improved your credit score. Admissions committees understand that financial situations can change and will take into consideration your current credit score and any steps you have taken to improve it.

4. Do all grad programs consider credit scores during the admissions process?

No, not all grad programs consider credit scores during the admissions process. Some programs may not consider credit scores at all, while others may only look at credit scores for specific types of financial aid or loans. It is important to check with each program to see if they have any specific requirements regarding credit scores.

5. Is it possible to explain my bad credit history in my grad school application?

Yes, it is possible to explain your bad credit history in your grad school application. Many programs allow you to submit a personal statement or additional documents to explain any extenuating circumstances that may have led to your bad credit. It is important to be honest and provide any relevant information that may help the admissions committee understand your situation.

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