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Do student loans affect my credit score?

Having a student loan will affect your credit score. Your student loan amount and payment history are a part of your credit report.

Your credit reports—which impact your credit score—will contain information about your student loans, including:

  • Amount that you owe on your loans
  • Payment history
  • Length of your credit history (how long you’ve had the loans)
  • Mix of credit types (how much of your debt is in student loans versus credit cards, auto loans, and other types of debt or credit)

Paying your student loans on time can help you build credit and maintain a positive credit score. In contrast, failure to make payments will hurt your score. Establishing a good credit history and credit score affects your future ability to take out loans and use credit at lower interest rates.

If you think you may not be able to make your student loan payments, contact your servicer to find out more options. Here are strategies for staying on track and avoiding problems with your student loans.