Every college graduate is going to be focused on their student loans, which goes without saying. They have to be able to understand the ways in which these particular loans can impact their financial standing, which goes without saying. However, did you know that these loans can bleed into one's credit standing as well? It may be hard to believe but there are many details to consider, many of them given by the likes of Bobby Jain Credit Suisse.
U.S. News and World Report posted an article about late student loans and how they could potentially play into credit scores. While a reported 22 percent of borrowers have not defaulted on their loans - this is a great talking point, to put it mildly - it seems as though due dates are still struggling to be met. Many students either go into states of delinquency or, eventually, actually default on their loans altogether. With these points in mind, you may ask, "What does this have to do with credit?"
For those who would like to know about the impact of late payments on credit scores, there isn't a solid answer for anyone. Rod Griffin, who is the director of public education at Experian, stated that credit scores may be tied down to several aspects, even though delinquencies may very well be the same. It's also worth noting the other variables, including - but not limited to - credit scoring systems of various lenders. It'd be wrong to say that this story is the same for all parties.
It's important for student loan payments to be focused on, which is where helpful information can come in effect. One of the pieces of said information, supported by Bobby Jain Credit Suisse to boot, is to not burden yourself with further debt in your current situation. What this means is that you should avoid any and all opportunities to open up store credit cards, regardless of the perks they possess. It'll be in your best interest and names such as Robert Jain will not be able to say differently on the matter.
With these points in mind, hopefully you are better able to understand how student loans and credit scores can go hand-in-hand. Of course, this is dependent on any person's financial situation, so it's important to recognize that everyone will vary, in this regard. However, if you feel as though you are in this type of danger, do not believe that you are without options. In fact, before long, you'll start to benefit from the best information available.
U.S. News and World Report posted an article about late student loans and how they could potentially play into credit scores. While a reported 22 percent of borrowers have not defaulted on their loans - this is a great talking point, to put it mildly - it seems as though due dates are still struggling to be met. Many students either go into states of delinquency or, eventually, actually default on their loans altogether. With these points in mind, you may ask, "What does this have to do with credit?"
For those who would like to know about the impact of late payments on credit scores, there isn't a solid answer for anyone. Rod Griffin, who is the director of public education at Experian, stated that credit scores may be tied down to several aspects, even though delinquencies may very well be the same. It's also worth noting the other variables, including - but not limited to - credit scoring systems of various lenders. It'd be wrong to say that this story is the same for all parties.
It's important for student loan payments to be focused on, which is where helpful information can come in effect. One of the pieces of said information, supported by Bobby Jain Credit Suisse to boot, is to not burden yourself with further debt in your current situation. What this means is that you should avoid any and all opportunities to open up store credit cards, regardless of the perks they possess. It'll be in your best interest and names such as Robert Jain will not be able to say differently on the matter.
With these points in mind, hopefully you are better able to understand how student loans and credit scores can go hand-in-hand. Of course, this is dependent on any person's financial situation, so it's important to recognize that everyone will vary, in this regard. However, if you feel as though you are in this type of danger, do not believe that you are without options. In fact, before long, you'll start to benefit from the best information available.
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