How does a student loan affect your credit?
FuzzyLizard asked:
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?
Thuy Brookshire
I have a student loan that is about 50K. I am making payments on it but I am on the income contingent plan and every month I get a statement showing that what Im paying is not enough to pay even the interest, so the balance is higher every month. Does this negatively affect my credit, I pay every month on time but I want to know if this will affect my credit. Does the 50K count towards debt to available credit ratio also. How does the student loan affect credit ratings?
Thuy Brookshire
Tags: college funding, student loans, scholarship, pell grants, , college grants, college loans
