New Visitor
daddyofprecious
Posts: 1
Registered: ‎09-27-2012
Does private student loan have same impact on credit as government student loan?

I understand that my federal student loans have very little impact on my credit score while I am in school and the loan is in deferment.  Does a PRIVATE student loan have the same low impact while in school and is deferred?  Any reliable feedback would be great!!!

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
Re: Does private student loan have same impact on credit as government student loan?

Both are installment loans and looked at the same

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
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Shogun
Posts: 12,883
Registered: ‎04-15-2011
Re: Does private student loan have same impact on credit as government student loan?

+1  They are scored the same.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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