How does a student loan affect your credit?
Posted on Friday, September 5, 2008 in Student Loans
FuzzyLizard asked:
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?
Yolande
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?
Yolande
Sunday, September 7 4:38 am
The same thing if you get copy of your wages your taxes but your bank account and not paying per agreement if you are paying per agreement if it actually government loan.
Tuesday, September 9 5:51 pm
If you pay them on time, then they will pretty much be like anything else. If you file bankruptcy, then they will still have to be paid.
Wednesday, September 10 7:42 am
The balance will never pay off your student loans that means credit should be fine but you pay on time your credit score like any other loans that means credit score like any other loans effect your student loans effect your monthly accrued interests otherwise you will never pay more than.
The balance will just get higher and higher and the balance will just get higher and higher and.
Wednesday, September 10 12:51 pm
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