How Student Loans Affect Your Credit Score

We’ve all heard the daunting numbers: The United States now holds $ 1.2 trillion in collective student loan debt, and this year’s college graduates are leaving school with an average debt of $ 33,000, according to Mark Kantrowitz, senior vice president and publisher of Edvisors.com, a paying for college resource. But college-bound students and their parents need not despair. Student loans – when handled correctly and responsibly – can actually serve as a major asset in building a student’s credit history and credit score. They can result in a graduate being able to qualify for his or her first apartment, first car loan and, very often, first unsecured credit card. As with most other loans, you

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