OK, I cannot agree. I have about $39,000 in student loans and before I was in repayment period my loans showed up on my credit report but showed deferred status with a date. I have now graduated and I still have a six month grace period. Your student loans are still factored into your overall credit score and they affect your credit score negatively only if they are not paid on time.AnswerNOT MUCH, AS LONG AS YOU PAY YOUR STUDENT LOANS ON-TIME AFTER YOUR GRACE PERIOD (WHILE ATTENDING COLLEGE) THEN YOU SHOULD BE FINE.
If you're still a student, student loans do not show up on a credit report at all. They only appear after you have graduated, withdrawn, dropped-out, etc. and the repayment starts.
11/01/2010 I will have to disagree with the above answer. Student loans show up on your credit report before you graduate-how do I know this?-Well because I am a student with loans and those loans have showed up on my credit report under "deferred"-they have actually helped my credit score, BUT they will HURT it if and ONLY IF, when it is time to repay I default. I agree with the 1st answer and not the 2nd. Maybe times have changed since the 2nd person answered this question or even has knowledge of the credit score system in conjunction with student loans. These are government backed up student loans that I am referring to, NOT bank student loans.
It does not affect them.
No, but is will affect your credit report.
Yes, they are like any other loan. they are listed on your credit report and affect your score.
Student loans can show up as "baddies" on your credit report if they are paid late or in default. These loans are reported similar to revolving loans or lines of credit.
Student loans through FAFSA is not credit based so no it will not. Private student loans is a diffrent story, which is based on credit.
Pioneer Credit Union offers auto loans, mortgage loans, home equity loans, home equity lines of credit, student loans, personal loans and business loans.
Federal student loans do not require credit checks in order to apply and receive finical aid. Private student loans from banks and credit unions require a strong credit score to get approved or a creditworthy co-signer.
Subsidized loans will affect your credit score negatively if you are not paying them. If you are paying them, they will have a positive effect on your score.
Whether or not a you can repay loans with a credit card depnds on the policies of you debtors. You can pay some student loans with a credit card, if you are in default. However private lenders are under no obligation to accept credit card payments.
The private student loans are the loans arranged by the student through any of the private banks at a fixed interest rate. To apply to these private student loans you need a cosigner unless your credit rating is too good and you have a source of income.
In the US, you can consolidate your loans even with bad credit if they are Federally Guaranteed student loans, like Stafford loans. If you want help with the consolidation of your student loans, click on the link below.