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Couple questions about student loans and credit

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Hello, my name is Jessica, I am 25 now and will be finishing school now..

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 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.

Sub: #1 posted on Mon, 09/17/2018 - 20:41

David Martin David Martin

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