Medical school loans...
08-16-2012 06:59 PM
I may apply to medical school as early as next year, but I would like to know what effect a 250k-300k federal loan package (mostly unsubsidized) would have on my current credit score (oldest revolving account~ 3yrs). Will the effects be immediate as I take out the loans and will my credit score drop dramatically (due to the high debt-to-limit ratio) after I graduate from medica school and have to start paying them back?
Also, will these medical school loans affect my current credit card accounts/limits? future auto/mortgage loan approval-chances/rates?
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA
Goal for 2014 ~760+
Trying to stay in the garden...but also trying to get as many apps as possible for now