limartinez: When you log into the portal, there is a tab "student services" from there middle selection is "online applications" and just below that is the background check. All you have to do is sign it and submit it. I haven't seen the credit check...
If you haven't started the fafsa yet, I would recommend it. It seems like it will take a couple of days for your account to be approved so you can begin the actual application and entrance counseling.
I think it was for GPA and work experience. From what I hear, they get around 300-500 applications, narrow it down to 80, and then start the interview process.