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Posted in Student Loans
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Question By
lilei

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Why did my student loan deferment make my credit score drastically drop?
I checked my weekly credit score this morning and my credit score dropped 56 points in one week. Credit karma says that the change was because my student loans went from in payment to deferred (I started school again in August). I called the student loan company for my student loans(federal)and they said that the deferment doesn't negatively impact my score. What could be the issue?

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Re-enrollment negatively affects credit

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The same thing happened to me. My credit score dropped 69 points and I'm unsure as to why. I'm back in school and loan deferrements are automatic once one re-enrolls. This is extremely unfair and incredibly discouraging. 

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Helpful to 1 out of 1 people

Same here. I just paid off a balance in full and it was taken off. I come back thinking my score went up, no! It dropped 16 points due to deferred student loans. All I can think about that would cause that would be the age of our credit history coupled with the amount of student loans. I think too many student loan accounts could negatively impact the score if your Credit age is less than 5 years old. 

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Same thing just happened to me... I started school again in August, therefore I was allowed to stop making payments on a previous loan, and now my score has dropped 41 points. Crazy! It doesn't seem fair in the slightest. 

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Disaster Deferment of student loan

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My student loan was deffered automatically due to the Hurricane Disaster in Florida and this also caused my scores to go down 49 or more points.  Everywhere I read online says student loan deferment does not affect your credit score but I didnt even choose to defer the student loan company did this automatically after the Hurricane.  This is not right.  

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deferred student loan and credit score

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I have the same problem, mine dropped 52 points. Have you been able to get any answers? 

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Helpful to 1 out of 1 people

I have the same issue , I'm confused

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Helpful to 0 out of 1 people

mine did as well! had 726 now I'm at 643 real mad smh...

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