Couple questions about student loans and credit
Date: Fri, 09/14/2018 - 00:54
Couple questions about student loans and credit
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!
Yes. Unpaid student loans do
Yes. Unpaid student loans do affect your credit score. So you should try to pay them off as soon as possible. Most students get a 6 months grace period after finishing graduation. So your aim should be to get a job within the next 6 months. The grace period is usually given so that students get time to find a job and earn dollars.
You don't need to hire a credit repair company. You can do it yourself. Get a job and start making monthly payments on your student loans. Your credit score will gradually improve.
Have you taken out a private student loan or a federal student loan? Otherwise, it will be difficult to calculate your monthly payments.
