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Posts: 32,869
Registered: ‎08-04-2007

Sacmomof4 wrote:

So do student loans affect crdit scores? I am a current student at the community college level and plan on attending a University and have my loans deffered since I am still a student. I do know that I cannot consilodate them because I am still a current student, but am looking into building my credit to buy a home this next year. 

Any account reporting can impact your FICO scores, positively or negatively or both. Depends on what is reporting in relation to your overall credit.


Per FICO, a SL is considered an installment loan and scored on par with other loans like auto loans, personal loans, etc. It doesn't matter if private or federal.


In the case of OP, his/her balances were too high on his/her loans and that can be a negative scoring factor. It's relatively minor ding though.