Posts: 17,409
Registered: ‎07-14-2009
Re: Private student loan - Revolving account or installment loan?


SMikulski49 wrote:

I co-signed on a stuent loan. We qualified for 75,000 max but so far she only took 6,573. This is reporting as a revolving account, the 6,573 amount is added to all my caredit card balances. Why do my student loans report as installment loans and this one reports as a revolving account when its just a personal student loan taken out. Is this good or bad that its showing up like this? When I click on details for this account it says largest past balance 75,000, under descriptions it says line of credit and payment deferred.


Thanks for your help everyone




I don't know a whole lot about student loans but I thought ALL SL's were considered installment. But I could be wrong. Have you contacted the lender about this? It could just be coded incorrectly.


Because it's included as a revolving account it is most definitely hurting your score.




From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".