The Effects of Credit and Your Loan History

Good credit requires a continuous pattern of prompt payments, no current delinquencies and no negative items such as collections, repossessions or foreclosures.

Since lenders are required to report student loans to at least one credit bureau, you could have an adverse credit report because of failure to keep deferments current or make required payments. Bad credit will not only deny you access to loans for education, you will not be able to finance a car, a home, a practice, or much of anything else. Your credit rating must be protected at all costs, and that means making wise decisions and knowing where problems might arise.

You should start with understanding the type and the amount of your debt. This will assist in budgeting for the future and in organizing a repayment plan.

To view the accrued federal student loans you have you should visit, the National Student Loan Data System.