How do student loans affect my credit score?

How do student loans affect my credit score?

Student loans can impact your credit score in several ways, including your payment history and credit utilization.

What happens if I miss a payment on my student loan?

Missing a payment can negatively affect your credit score, as payment history is a significant factor in credit scoring.

Can I improve my credit score if I have student loans?

Yes, you can improve your credit score by making on-time payments, keeping your credit utilization low, and monitoring your credit report.

Are there any benefits to having student loans on my credit report?

Having student loans can help build your credit history, which is beneficial for your credit score if managed well.

What should I do if I can't afford my student loan payments?

If you can't afford your payments, consider options like deferment, forbearance, or income-driven repayment plans.