How does student loan debt affect my credit score?

September 20th, 2009 | by admin |

I am at the final stage of paying off credit card balances. Just one more month, yippee!!!! I’ve also already paid off my car loan 7 months before the maturation date. Anyway, I still have close to $50,000 in student loan debts- federal and private. But that’s it. I have never had any major credit problems. Will all this student loan debt have a negative impact on my credit score and rating?
I always make the payments on time every month.

  1. 6 Responses to “How does student loan debt affect my credit score?”

  2. By luciousgreeneyedlady on Sep 20, 2009 | Reply

    that is a lot of money in student loans. even though you pay your bills on time, just the fact that your overextended can hurt you.

  3. By Asynjur on Sep 22, 2009 | Reply

    You have the legal right to check your credit report once a year, from each agency, for free. So you could just find out your credit score. Some people check each of the 3 credit score agencies every 4 months, giving them a regular peek at how their credit is doing. Here is the link –

  4. By victorianroses0 on Sep 25, 2009 | Reply

    As unfair as it seems, they do lower your score abit. I have a pretty good score, but my student loans have affected it negatively alittle bit. When I asked about it, its because its such a long loan. Like, Sallie Mae gives you 10 years to pay it off. Even though thats not bad because its in agreement with Sallie Mae that is very normal for a student loan, it counts as too long to pay off a debt on a credit score which I think is crazy.

  5. By baddog372001 on Sep 28, 2009 | Reply

    read this mate. It will tell you all

  6. By Ignacio on Oct 1, 2009 | Reply

    Yes any loan and cc affects your credit if you don’t pay it on time. You can consolidate your student loan through ezconsolidation.com students loan consolidation program. They are reliable
    There are many benefits available for the students as you can extend your payment period upto 30 years and so on.
    So consolidating your students loan would be a best option from my point of view

  7. By Jennifer on Oct 4, 2009 | Reply

    Hi,
    I used Credit Solution to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It’s legitimate.I came across this company on NBC News Special Edition.Check it out here:

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