Student Loans

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
Contributor
loviedovie
Posts: 135
Registered: ‎12-20-2012

Does credit drop when loans go into repayment?

Options

‎01-04-2013 09:08 AM

I am in school and wondering if my credit score will drop when my loans come out of deferment and into repayment...

Starting Score: TU 610 EQ FICO 635
Current Score: EXP 688 EQ FICO 701
Goal Score: 740 by NYE 2013

Take the myFICO Fitness Challenge
Message 1 of 3 (331 Views)
 
Reply
Established Contributor
SCF
Posts: 513
Registered: ‎06-09-2008

Re: Does credit drop when loans go into repayment?

Options

‎01-04-2013 06:27 PM

Your loan status should have no impact on your credit score (deferred vs. in-payment).

Message 2 of 3 (302 Views)
 
Reply
Frequent Contributor
bahbahd
Posts: 425
Registered: ‎08-12-2011

Re: Does credit drop when loans go into repayment?

Options

‎01-08-2013 10:24 AM

I do not think the loans repayment status even appears on credit reports. When deferred, you will have OK status for each month as if it was paid. The one thing that does report is the higher balance as the interest accrues. 

Message 3 of 3 (255 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+