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Posted in Student Loans
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Brandywynedugan

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Student Loans affecting Credit Score.
According to this site I have 6 Student Loans open and nothing else affecting my credit score. I do not have to start payments on any of these loans until May 2017 yet my score is bad. Could you please tell me why this may be?

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Student loans are a debt that absolutely MUST be repaid with virtually no rescourse.  There is no Statute of Limitations where they would just vanish after a given period of time, nor are they dischargable in bankruptcy.  They are just a DEBT.  What you need to help your credit score is revolving charge accounts such as VISA which can be begun with a secured credit card and built over time.  Please re-read the articles on this site to get a clearer understanding of this issue.

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