One of the most important is, “does debt consolidation hurt your credit score?
” To answer that, you need to understand how credit reports and credit scores work.
For the record, and for those who don't know the difference, a credit rating and a credit score are 2 different things.
Your choice of whether to make payments right away or wait until after graduation makes a big difference in the answer to this question. You should see a separate account for each semester that you borrowed money to fund tuition, room, and board. Student loans will show up on your credit report while you are still in school.
This article discusses some of the reasons for and against consolidation.
Do student loans show on credit reports and affect credit scores? However, you feel the impact differently based on the stage you are at, the type of debt, and payment status.
We are going to explain how student loans impact your credit score and teach you strategies to keep your credit in good shape while managing student loan debt.
The primary credit score, the FICO score is determined according to five factors.