Answer:
College students come in all ages, so at face value I would say no, because this is tied occupation. But if you are basing your decision on the applicant's age, then possibly.
Assuming they have the ability to enter into a contract, review Section 202.6, the rules concerning evaluation of applications:
"In an empirically derived, demonstrably and statistically sound credit-scoring system, a creditor may use an applicant's age as a predictive variable, provided that the age of an elderly applicant is not assigned a negative factor or value.
(iii) In a judgmental system of evaluating creditworthiness, a creditor may consider an applicant's age or whether an applicant's income derives from any public assistance program only for the purpose of determining a pertinent element of creditworthiness."
First published on BankersOnline.com 5/3/04
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