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Posted in Student Loans
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zozorennee

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Im in professional school, student loans are racking up. How does this affect my score?
I have 2 credit cards that i have kept open, paid on time and never used more than 30% of the balance. But my credit score is poor, is this because of my student loans? I did 4 years of college now im in 4 years of dental school so needless to say my student loans are racking up and I obviously can't pay them because i have no income. Is this normal to affect my credit score so poorly? Thanks!

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Ask for a deferrement

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Your student loans will not affect your credit as long as you contact your lender and ask for an economic hardship deferrement. You won't have to pay anything during the time your student loan is deffered, but interest will accrue. In your credit report will appear as "current". The worst you can do is leaving them unattended when you have options. 

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Yes, unpaid student loans will hurt your credit.  I'm surprised that your SL payments are not being deferred since you are in school.  If these loans are not "in-school status", you may be able to consolidate into an income-based program with zero monthly payment.  Who are your loans with?

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