In October 2011, the department changed it`s underwriting criteria. Charge-off records and reports in collections within 5 years, should they was not paid back, would now count against candidates for PLUS loans. The alteration had been made quietly -- the division didn’t convene a rule-making panel or issue a page to universities explaining it -- however the effect had been dramatic, Kantrowitz stated. Some creditors will place records in collections in cases where a re re re payment is just thirty day period later. Moms and dads that has formerly been entitled to the loans discovered that they had now.