Five Ways Student Loans Impact Credit
Wednesday, November 4 at 2:00 p.m. CST
Duration: 60 minutes
When students borrow federal loans, do they understand the impact it could have on their credit? Unfortunately, many students don’t—but they should. The actions taken on their loans will determine whether they’ll have a favorable or adverse credit history. Join us as we explore the five ways federal student loans impact credit and what borrowers can do to build a good credit history.
Specific topics covered:
- How and when payments are applied
- How deferments, forbearances, delinquency, and default impact their credit reports
- What happens when borrowers rehabilitate or consolidate their loans
