Does consolidating your student loans help your credit chantal sutherland mike smith no longer dating

13-Jan-2020 07:24

On the flip side, not paying your student loans or making late student loan payments can seriously hurt your credit.If you’re among the 44 million Americans with student loan debt or you’re considering a student loan, knowing just how student loans and student loan debt affect credit can help you ensure good credit and better set yourself up for a bright financial future.When it comes to federal student loans, you’re generally expected to start making payments six months after you graduate. Private student loans may require repayment right way.

Student loans help consumers qualify for other lines of credit later on.Payment history is the most important aspect of your credit scores. Late payments on any debt hurt credit scores, but making your monthly payments on time is a gold star on your payment history.