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Posted in Student Loans
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Question By
cheer93

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It shows my student loans on my credit report, I thought my student loans didn't go against my score

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Not if it is for Hogwarts.

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Only student loans for Hogwarts magically dissappear, Any other student loan goes on your credit report like any other debt. Likewise, failure to pay your student loans on time, student loan defaults, and collection actions will also go on your credit report and can definitely hurt your credit score!

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Reply by
jwsister

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I had student loans and they had a negative impact on my report due to default and late payments. 

You should know that student loans are generally not dischargable in bankruptcy and remain collectable until paid in full, even if that means an eventual deduction of Social Security and/or Veterans benefits.  That's one of the "bennies" the student loan industry got in a revisioin of the bankruptcy laws several years ago.

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