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If you default on your student loan, you risk damaging your credit permanently. For federal loans, default occurs after 270 days of nonpayment and remains on your credit report for up to seven ...
On the other hand, properly executing a repayment plan can boost your credit score, and this will enable you to apply for future loans and credit cards. There are many different types of credit ...
Federal loans have annual and aggregate limits, which vary depending on a student’s dependency status and year in school. Private loans may have higher borrowing limits, but this can lead to ...
Federal student loan forbearance allows you to skip your student loan payments for a given time or temporarily make a smaller payment. The catch: Interest will still accrue on your balance.
Here's the good news: Deferring loan payments does not directly affect your credit scores. In fact, if you're having trouble making payments, it can be a good idea to defer your loans until you ...
Student loans can have a major effect on your credit score, so it pays to understand the relationship between student loans and credit. On one hand, borrowing and paying back student loans can do ...
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