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Posted in Student Loans
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MJCPROSE

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Didnt President Obama stop credit bureaus from putting student loans on credit report scores? Help!
I am disabled, 60 years old and had to get a forbearance. I then returned to school and am a full time student. Somehow I have a report of missing two payments and they have affected my credit score immensely. I thought Obama said school loans can't be used on our credit reports?

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Mr Obama did not sign any action which would preclude student loans from affecting credit reports.  To do so would have a severe bad exerpience for all creditors.  Imagine if a person had 50,000 in student loans and they were not reported.  This would allow someone to go out and secure credit when in fact they were already in debt.  Should the person not pay their student loans and their checks were garnished, that person would have no means to pay off the additional unsecured debt they amassed.   Studen loans are in deed loans which are and should be reported to the credit bureau.  

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