Student Loans

What are y’all doing to keep your credit score up due to Student Loans?

I have a credit card I use for small purchases. Under $10. Pay it off every month.

Credit card with a low balance. If they give you a limit you are uncomfortable with, you can always call and have it lowered to $200. That way you don't get in trouble with it later. And if you decide later you want to increase the limit, they will do so as well.

Good question, I'm following the answers…..

Try to use the credit card only if you have an emergency.

What are y’all doing to keep your credit score up due to Student Loans?

The #1 and obvious thing is never have a late payment on student loans. They can be some of the hardest hits to your credit because you probably couldn't pay them off overnight or even soon.

I had 2 different lenders. Great Lakes was wonderful and easy to work with. Citibank (which started out as SunTrust Bank) was awful and it was later transferred to Navient and they were even worse!

I was in process of re-certificating an income sensitive repayment plan and they kept stalling and pretending they hadn't received mail documents. Next thing I knew they showed me 180 days late and it stayed on my report for 7 years!

And towards the end of the 7 years when I'd try to contact them all I got is an AI - not even a real human! that was in no mood to discuss anything.

So if you have a bad lender try to re-consolidate with a better lender like Great Lakes even if you wind up paying slightly more interest, but you could actually pay less depending on when you took out the loan.

I have 4 student loans one of the schools i went to closed do i need to repay it?

What's the earliest you should begin repaying student loans? Is it safe to do so while still in school?

Do what they say to do. I have 60k+ of student debt, but a score well above 700.

When is a good time to begin repayment?

What credit cards are good to get with low credit scores?

I try not to use my cards

Try to refinance your loan to get a better payment, if you are responsible with money and your payment, you could used credit cards to boost your credit score and get free cash back or miles. Everyone has different goals, so you will have do a deep analysis of your finances to determine the best route for you and your family.

Make payments on time.

Try one of the income based repayment plans, then stay current

I keep a 7% balance in my card to ensure they see I’m using it. It boosted my score dramatically.

I've never in my life been able to get a credit card.

I'm hoping to use the Public Service Loan forgiveness. Ten years of working in education, and (hopefully!) they'll be forgiven. Otherwise, I'll be paying on them until I die. For my children, I recommended they not ever take out loans. Grants or scholarships only or work and pay as you go. I have two master's degrees, but I work in education, so they don't mean much. I get a $1500/yr stipend for a master's degree and that is the only perk! I don't qualify for a higher paying position because of my degrees. All that student loan debt is essentially worthless in my career field. However, I learned a lot and enjoyed getting both my degrees, and I am quite marketable. I probably won't ever have to worry about not having a job because if my first career choice is cut or has lay offs, I can pop over to my second master's degree career. In the long run though, I wouldn't recommend it. Repaying student loans are always an obstacle!

Great ideas, thanks for sharing everyone.

Trying to stay out of debt and be careful for. What I want for the future

I hope to get help with my student loan this year and with the help different grants.

Don't miss payments on the student loans and get credit cards since the credit mix is part of credit scores

I was young and dumb and got student loans… biggest mistake of my life and I know I will be paying for it forever. Though the amount is high, I seem to able to have my score above 700. I have never had any type of late payments and I think that really helps the most.