Regular Contributor
SportBike4Life
Posts: 123
Registered: ‎07-22-2012
Medical school loans...

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?

Jun 2012 FICO® ~ 734 EQ
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 :smileywink: