student loans? (1 Viewer)

[Jackavelli]

do borrowers look at your student loans when considering giving you a loan? are student loans considered part of your debt ratio? thx in advance.

 

[Furor]

Yes. Yes.

 

[Denzien]

Although, I've found that student loans have much less of an impact on your credit score than revolving debt. 6% tax-deductible interest loan vs 12 - 30% credit card? You better believe it's tempting to consolidate with that...(as long as you shred your cards)

 

[saintfan-n-alex]

worst mistake i made in college

 

[TheBigEasy99]

do borrowers look at your student loans when considering giving you a loan? are student loans considered part of your debt ratio? thx in advance.

If it's reported on your credit report that you are making standard monthly payments then lending institutions will take it into consideration.

 

[Oye]

worst mistake i made in college

best investment I ever made

A good student loan is usually on very forgiving terms (e.g. forbearance, postponed payments) and at competitive rates.

Had it not been for school loans, I wouldn't be able to pursue the academic career I am today.

Although one of my friends took out tens of thousands and spent it plenty of things not at all school related.

If you are making payments, then it will show on your credit and lending institutions will take that into account. Just like any credit card, regular payments and remaining in good standing, you should be just fine. My student loans have never hurt my credit - quite the contrary, it helped me build a strong credit profile.

 

[shasta]

worst mistake i made in college

agreed

 

[kennydfresh]

"Worst mistake I ever made, don't do it, not worth it". My loan now is in forbearance and the IRS still tried to take my returns the other day. It would be my fault if they did, I'm to cheap to pay 38 dollars a month. DOH!

Saints master has spoken.............................................