Student loan "tips?"

[iamdetermined]

Hi everyone! 

I have ~$40K in student loans that I am ready to start tackling.

For many years they have been in forebearance and deferred, due to me going back and forth to school. I was making small payments here and there, and also being irresponsible sometimes and ignoring them. I don't have an excuse, I was just being dumb with these loans. I'm taking credit a lot more serious now, so I need to regain control of these accounts. 

Last week, I received a new statement for $50, so I paid it right away. I don't intend to make minimum payments forever, but I want to avoid anymore 30/60/90 on my reports. 

I reviewed all 3 of my reports and I see differences (different late reporting dates, open dates, etc).

In the world of student loans, what EXACTLY can I dispute? I'm not looking to dispute accurate information, but if I can get some "bad" information removed, I'd be in a much better position with my credit scores.

Any info is greatly appreciated (besides the obvious like pay bills on time lol) Thank you! 

[CreditWarrior21]

Hi iamdetermined!

Student loans are one of the more difficult baddies to get removed. Student Loan servicers are notoriously hard nosed on removing ANY lates or missed payments. That being said, it would help to know who your student loan owner is. Someone on the forum may have a contact you could plead for mercy from.

As far a payments- student loan interest compounds. Quickly. And terribly. I would advise against making minimum payments only- this will solely go to interest and not principle which will only balloon your debt. Obviously if you can't pay more than the minimum, at least pay the min on time.

I will also say this- if you are in a position, depending on your credit score, you could refinance a gov't backed loan with a private loan financer like Credible. That could bring your interest rate down. OR, open a 0% CC and use that to pay off the loans. This will save you money on interest in the long run.

And you're not in it alone. I have 65K in Student Loan debt that I have been paying diligently for 10 years. And it never seems to make a dent. I am going to use th 0% CC tip I gave above as soon as I close on my house next month.

Hope this was helpful in some way!

[Tazman81]

Glad to hear that you are getting things under control with your student loans.  I think you are in the same boat as many of us that we tend to not think about the student loans since they are out of sight out of mind.

One thing that you can do is check to see if any of the lates were reported during a time that your loans should have been deferred because you were in school.  Or if you were on a forebearance.  This is a good way to make sure that the student loans are being reported accurately.  If you do find lates reported during time you were in school, then you can contact the servicer about having that corrected.

[iamdetermined]

Hi CreditWarrior21! Thank you for responding

You are so right, the interest is horrible on student loans. I am brainstorming a budget to cut the time to pay them back. I'm disgusted with the interest now that I care about it more lol.

I'll definitely look into Credible...thanks! I will utilize my CC for 0% interest as well.

So sorry you are going through it too. Wishing u the best of luck!

UPDATE: ACS/Wells Fargo student loan is now gone from TU

Per Credit Karma Fair Credit is gone now too..?!?!?! Coult it be?! Omg if so I have one collection left (& some lates to GW).

You've been so helpful..GL with everything!

[iamdetermined]

Thank you, I appreciate it Tazman81!

You are so right, that was definitely my thoughts lol.

I'm definitely going to tale that advice & comb through the reporting dates.