Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
millibrown

0 Contributions
0 People Helped
Student loan grace ended and my score dropped dramatically?
My federal student loans ended their grace period last month and though I'd been making payments for a few months all of the interest they accrued over the 4 years I was in school was reported at once as a sudden increase in debt. This dropped my score by almost 70 points. Is that supposed to happen?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
784 Contributions
298 People Helped

Yes, that's what happens when loans come out of deferment.  Depending on the loan amount, your credit score can drop almost 100 points!

1 Contribution
0 People Helped

Is there anything you can do about this? I had an excellent credit score and my loans just came out of deferment and my score dropped 80 points.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.