new student loans-are they reported on credit report

[debtfighter]

hey all...working on my credit scores still. just took out student loans and wondering how or if they are reported. do they have any impact on my credit score? at a 590 so thinking loans cant do much more damage right now. waiting for a judgment to age off before i get any credit cards. if anyone has any experience with student loans please help! thanks

[Anonymous]

where did u get student loans cosigned??

[debtfighter]

i didn't have a cosigner. i applied through financial aid (fafsa forms) through school.

[SCF]

All student loans - both federal and private - will be reported the CRAs, although if you have a Perkins loan or other loan through your school directly, they may not report to the all of the CRAs, or update nearly as often as a major servicer like Sallie Mae or Nelnet.  The loans will report "paid as agreed" even while they are on in-school deferrment.  You might see a small ding for the new accounts, but over time, the positive tradelines will certainly help your school as long as you keep the loans in good standing.

[debtfighter]

i am going to start paying the loans even though they will probably be in deferment until summer 2016. I also am going to try to get tuition reinbursement through my job and if i get it I will be applying the reimbursement directly to the loans to help lessen the amount owed later on. will these early payments help my credit score at all? just curious.  also, the school has a payment plan set up through nelnet. don't know if they report but i used the payment plan with them last semester and didn't see anything on my credit report from them.

[SCF]

Paying early or extra on installment loans does not directly increase your credit score - but it will certainly help your finances by reducing the amount of interest you pay and helping to ensure that you keep the loan paid on time.  The benefits to your credit will come from the positive history that builds over time.

Your school's payment plan may not be a loan, but just the school outsourcing a payment plan for the tuition.  If that's the case, you would not see anything on your credit report.