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Posted in Student Loans
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Question By
Hovaane

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FEDLOAN credit score effect
Hi;
I'm a student I have apply for FEDLOAN through fafsa for my study to the university. I noticed that after it has posted in my credit score report they just cut from me a 55 point is this normal ? if not how I can fix it it's just my first semester I'm afraid they would cut 55 point each semester I take a loan.
Thank you

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Every time you take out a new loan it will cause your score to drop, however, after you start making payments your score willl slowly increase.

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Unfair

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I am shocked at this because you would think that as long as you are in school it should not show in /on your credit file. I messies up your score and I was told that you can have them remove from your credit report until you finish school. I will keep you all posted on the updates and anything else that I find.

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Student Loans Deferred

Was anyone able to cosolidate their student loans for credit purposes while in school.

Was anyone able to get student loans removed from your account if it was bought out and/or deferred?

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fantasticj2

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Yes, to both options

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