Couple questions about student loans and credit

Discussion in 'Other Property Hotspots' started by jesscageorger, Sep 12, 2018.

  1. jesscageorger

    jesscageorger New Member

    Hello, my name is Jessica, I am 25 now and will be finishing school now..

    Couple questions about student loans and credit.

    So, do they affect the credit score?

    I don't have any job right now, and I am constantly looking, how much time will I have to start paying them off?

    I will have around $40,000 total of debt and just want to see how it will affect my credit because I plan on buying a home in the next 3 years.

    Do student loans will hurt my credit?

    Will I need to hire a a credit repair company so I have a score of 700 at least?

    Lets say I find a job at 80k, how much should I pay them off?

    Not sure what the interest is.

    Anyway, thanks! and I hope I am in the right category!
     
  2. nmb

    nmb Well-Known Member

  3. FWL

    FWL Member

    Until you actually default on your loan it should not count against your credit score. However, when you are working out your finances for a mortgage you will need to take student loan repayments into account to arrive at your "free money" figure.
     
  4. Longterminvestor

    Longterminvestor Active Member

    Can you really pay a company to repair your credit rating? I would assume the credit rating companies are well aware of the tricks that they use?
     
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