Is credit score affected by federal student aid? Federal Student Aid Account

Your student loan will really help you to build your credit. When it is time to repay, be sure to make your payments in a timely manner as payment history accounts for 35% of your credit score. Your spouse’s FICO score will not be affected unless they co-sign on a loan for you, or have a joint account with you that is negatively reported to a credit reporting agency (CRA). If your sole purpose is to build your own credit history, and since you’re not likely to start making payment on your stafford loan until approximately four years from now, you should consider applying for a credit card. Your bank that you already do business most likely has a Visa card that they offer. They can see the type of customer you have already been and do factor in certain intangible items which can be favorable such as your checking balance, payroll deposits, length of account…etc. The worst that can happen is that you are denied in requesting the opening of a credit account. If that happens, you can write that particular CRA (ie Equifax, Experian, TransUnion) within 30 days and request a copy of your credit report. This is in addition to the annual free report you are entitled to.

A bank account does NOT develop a credit rating. You doin’t need your score – what you need is your credit reports. A score is merely a score of your reports. You need to know your reports line by line in detail. Go to Annual Credit Report.com once a year to check your credit reports really free. Don’t fall for scam websites. /

Yes, they are called STUDENT LOANS. Go figure! LOL

Don’t listen to that smarta**, yes there is various ones, you can go to salliemae.com or various banks and take out a personal student loan for that amount.. excellent luck

My name is Mrs Jennifer Lunn and life is worth living comfortably now for me and my family now and every day of my life now, i sit down and smile and thank GOD for saving us because i am a mother of three kids and i my husband encountered a terrible accident in the past that made him suffer from a serious spinal cord injury that have made him to be unable to stand, walk or work and his doctors states that he needs to undergo a delicate surgery for him to be able to walk again and we could not afford the bills for his surgery and his medications costs us so much weekly and i have been solely responsible for the up keep of the family ever since and life felt so hard and it to a point we have no funds for our rent we were about getting evicted from our house by our landlord and we felt so terrible as we could barely eat until one very faithful day, i was browsing through yahoo answers and i came across a loan lender Mr Clarke Williams who provides loans at an affordable interest rate and i have been hearing about so many scams on the internet but at this my desperate situation, i had no choice than to give it an attempt and surprisingly it was all like a dream, i received a loan of $ 200,000 USD and we payed our rent and did not get evicted from our house and my husband had his surgery and thank GOD today he is okay and can walk and is working and the burden is longer so much on me and we can feed well and my family is pleased today and i said to my self that i will shout aloud to the world of the wonders of GOD to me through this GOD fearing lender Mr Clarke Williams and i will advise anyone in genuine and serious need of loan to contact this GOD fearing lender via clarkeloanfirm82@yahoo.com My regards, Jennifer Lunn

Here is what I know. Your Perkins Loan is most likely your lowest interest rate and you don’t have to start repayment on it for 9 months after graduation rather than 6 like the stafford loans. That is probably why you were advised not to consolidate that. As far as the Sub and Unsub loans you have you can consolidate those all into one. It will take a weighted average of all the interest rates on those loans and lump them together so you can make 1 payment a month rather than 5 or 10 or but many loans you have. You can choose from a couple different repayment programs, for example one allows you to make smaller payments to start with and then increase as you may be gradually earning more in your career. Hope this helps.

Because it’s a Perkins loan, I’m assuming you got a teaching or nursing degree? If you did, you may qualify to have the loans forgiven depending on what state you live in. You may want to look into that

There’s quite a bit to go over… I just found a link that included all the in rank you’ll need. Going with the incorrect lender can cost you way too much, so be careful about student loan consolidation. You only get one shot!

No, you will have to contact your school. Your loans will be sent directly to your school to pay for tuition costs FIRST, if there is any money left over, the school will send the money to you.

If the school hasn’t sent the money back yet call them and see if you can change any of it. If its already been sent back you can still call the school and see if they can request it back or something. If they cant help you then next time just pay a small bit more attention.