Does consolidating student loans affect my credit score
That way, you will have money for your first few payments.
It is imperative that you not miss student loan payments.
For better or worse, credit reports and credit scores affect many facets of our lives.
Credit scores determine if you are able to buy a home, take out a car loan, obtain credit cards, or be eligible for student loans.
Take all necessary steps to remind yourself of the dates for those payments.Missing payments, as already mentioned above, will hurt your credit score.If you have a tendency to forget things, set up reminders in several places—your email account(s), your personal calendar, etc.Based on this information, you might think that you should stick to the payment plan that your lender has provided you.Let’s say, for example, that you have a student loan through Sallie Mae and a repayment plan over a period of 10 years.