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Student loans on credit report
Posted by doublecutter on 3/27/10 at 12:36 pm00
Are student loans considered a negative on a credit report? My daughter is bitching that someone told her that student loans are the worst kind of debt to have on your credit report. Her debt is $17,000 and payments are made on schedule.
re: Student loans on credit reportPosted by TortiousTiger on 3/27/10 at 12:46 pm to doublecutter
not from what I understand.
re: Student loans on credit reportPosted by LSURussian on 3/27/10 at 12:54 pm to doublecutter
quote:I sure hope so.
Are student loans considered a negative on a credit report?
re: Student loans on credit reportPosted by doublecutter on 3/27/10 at 1:02 pm to LSURussian
quote:
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Are student loans considered a negative on a credit report?
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Why do you hope so???
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Are student loans considered a negative on a credit report?
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quote:
I sure hope so.
Why do you hope so???
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re: Student loans on credit reportPosted by bbarbera on 3/27/10 at 1:04 pm to doublecutter
No they are not as long as you pay them back on time.
re: Student loans on credit reportPosted by LSURussian on 3/27/10 at 2:36 pm to doublecutter
quote:I may have misread the first post. I thought it was referring to unpaid or past due student loans. And that is what I was referring to when I said, "I hope so."
Why do you hope so???
I don't mean I hope student loans themselves are a negative. I have no idea if they are or not.
re: Student loans on credit reportPosted by kfizzle85 on 3/27/10 at 5:24 pm to doublecutter
quote:
her that student loans are the worst kind of debt to have on your credit report.
If by "worst," they meant "best," because it typically has very low, sometimes subsidized interest rates and extended payback periods including deferral run-ups, then yes, its the worst kind of debt to have. OTOH, if they meant "the worst kind of debt to have because you defaulted on it and aren't paying it" then yes, its the worst kind of debt, because it survives bankruptcy.
re: Student loans on credit reportPosted by McLemore on 3/28/10 at 10:37 am to doublecutter
having a mix of debt is good for your credit score, as long as there are no 30+ day late payments on any of it. an installment loan (like a car), a mortgage, credit cards with 0 balance (avoid the high proportional balance dings), and student loans = the optimal mix.
of course, when you actually go to get a loan, you'll have to show ratios of debt payments to income. but that has nothing to do with score (as it doesn't take into account income at all).
of course, when you actually go to get a loan, you'll have to show ratios of debt payments to income. but that has nothing to do with score (as it doesn't take into account income at all).
This post was edited on 3/28 at 10:38 am
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