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Posted in Student Loans
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Twink92

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Why are my school loans affecting my credit report already
Why is this affecting my credit score if payments for it doesn't occur until I'm finished with school. If I haven't missed a payment or payments are not even made yet then why is it making my credit score high just because I have the loan?

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Here's what goes into calculating your credit score: 35% payment history, 30% amounts owed, 15% length of credit history, 10% mix of credit, 10% new credit/inquiries.  So that would fall into amounts owed and since you've made no payments on them yet, you're not yet getting credit for payment history.  Your loans are deferred right now I assume?  And, you want a HIGH credit score, that is a good thing.  Hope this helps!

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student loans

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Hi I just did a chapter 13 I have over 30,000 worth of student loan should I try to consolidate into a payment plan or just try to pay a little at a time.

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