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Racial bias, [4] discrimination against prospective employees, [5] discrimination against medical and student debt holders, [6] poor risk predictability, manipulation of credit scoring algorithms, [7] inaccurate reports, [8] and overall immorality are some of the concerns raised regarding the system.
The law requires all three agencies, Equifax, Experian, and Transunion, to provide reports. These credit reports do not contain credit scores from any of the three agencies. The three credit bureaus run Annualcreditreport.com, where users can get their free credit reports. Non-FICO credit scores are available as an add-on feature of the report ...
In 10 years, the loan program experienced 230% growth in the loan portfolio and 130% growth in the loan recipients. Student loan debt in 2019 is the highest it has ever been. According to the latest loan debt statistics, student loan debt has become the second highest consumer debt category behind mortgage debt. [15]
According to the Gallup poll, 71% of respondents said they've delayed buying homes and purchasing cars over loan debt. Majority of student loan borrowers have delayed major life events due to debt ...
Even if you're paying off student loans, it's still possible to get a mortgage. Having student loans impacts your debt-to-income ratio. Ideally, you should aim for a DTI ratio of 36 percent or ...
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