Best Answer

Absolutely. Your credit score affects all aspects of lending...approval/interest rate etc. If a bank/creditor sees that you have forclosed on a home, they will be less likely to lend you money especially unsecured money like for a student loan.

User Avatar

Wiki User

โˆ™ 2006-09-15 00:53:55
This answer is:
User Avatar
Study guides

The top term of a fraction

The bottom term of a fraction

A number being added to another number

A fraction whose numerator is equal to or greater than the denominator

See all cards
No Reviews

Add your answer:

Earn +20 pts
Q: Will a foreclosure on your credit report affect your ability to get student loans in the future?
Write your answer...
Still have questions?
magnify glass
Related questions

Does home foreclosure effect ability to get student loan?

In the US, no your eligibility for student loans is not dependant on credit or income.

Does a Deed in lieu of foreclosure affect credit the same as a foreclosure?

Deed in lieu of foreclosure is not nearly as devastating to your credit as is a full foreclosure. Below is an article about the pros and cons of deed in lieu.

How does deferring a student loan affect credit rating?

Generally a student loan does not affect your credit rating

If my mother is an authorized user on my credit card and she is currently in the process of foreclosure would her foreclosure as an AU affect your credit?

No, having her listed as an authorized user will have no impact on your credit score.

What happens to your credit on a short sale?

A short sale will have a detrimental affect on your credit record but not as bad as a foreclosure.

Will a foreclosure from someone's past affect their spouse's credit?

Will my future wife's forclosure effect me?

How does my poor credit and or bankruptcy affect my children getting student loans?

It does not affect them.

How long does a foreclosure stay on your credit report?

A foreclosure will typically remain on your credit report for seven years.

Is there still a past due amount on your credit report after foreclosure?

The foreclosure will be on your credit report indefinitely.

How does foreclosure affect credit?

Your credit will be affected negatively with a possibility of your credit score dropping 200 or more points. Not sure if you are in foreclosure now but if you are not make sure to communicate with your banks regarding your situation to prepare for other options and at least the banks will be aware.

How long does foreclosure stay on your credit report?

A foreclosure will typically remain on your credit report for seven years.

How long does a foreclosure stay on your credit report and affect it?

7 years + 180 days from date of first delinquency.

People also asked