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How Student Loans and Paying Them Off Affect Your Credit Score

Student loan debt is becoming almost commonplace in America. According to the Student Loan Report, approximately 70 percent of college students in 2018 have student loans, with an average of $27,975 in debt per borrower. I’m not going to go further into the statistics; the more important topic to discuss is the impact that these loans have on each and every borrower, including the potentially surprising outcome of paying off …Read More

Ask An Expert: I’m struggling to make payments on my student loan. I have all federal and Perkins loans. Should I consolidate them to get lower interest?

A: Dear reader, consolidating your federal student loans could be an option to help you manage your payments and potentially avoid default. However, combining your loans may help you for other reasons that do not necessarily include lowering your interest rates. If you are thinking about consolidation, you can start by looking into Direct Consolidation Loans. This type of loan offers a consolidation option at no cost to you through …Read More