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Student111

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are student loans a good way to build credit

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Not unless you are actively

paying them off now. 

Student loans are usually deffered, meaning you don't have to pay them off right away. Some can be deffered for up to 30 years.  So there are no payments being posted to your credit report.  These loans are generally not even reported untill they come due so they don't show as a debt either. 

As a student you have a couple of options for building credit. 

convince your parents to add you to one of their credit cards as a signer. This doesn't open credit in your name, but reports the payments on your credit report. 

A Student credit card from one of the banks.  low limits and little credit background required make these a good option, but if you don't stay on top of them and make your payments on time they can become an anchor that will drag you down. 

In my opinion one of  the best options is a secured account.  A deposit is made in the bank and used as collateral for the card. In some cases,  if you miss a payment it would be withdrawn from the deposit, but that will lengthen the time a deposit is required. In general the deposit will be released and the card converted to a regular credit card after 18 to 24 months of ontime payments and proper use of the card. Most banks and credit unions offer this type of account. 

Good luck 

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