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Does private student loan have same impact on credit as government student loan?

New Member

Does private student loan have same impact on credit as government student loan?

I understand that my federal student loans have very little impact on my credit score while I am in school and the loan is in deferment.  Does a PRIVATE student loan have the same low impact while in school and is deferred?  Any reliable feedback would be great!!!

2 REPLIES
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Frequent Contributor

Re: Does private student loan have same impact on credit as government student loan?

Both are installment loans and looked at the same

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Moderator Emeritus

Re: Does private student loan have same impact on credit as government student loan?

+1  They are scored the same.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.