Consolidating student loans with bad credit Webchat fit girls no sign up

09 May

Our expert tips and hacks will help you save money, pay off loans sooner, and stress less about student loan debt.

Read the other posts in the series to get all the info you need to make intelligent decisions about your student loans.

But the good news is that FICO attempts to distinguish between a request for a single loan and a request for many new credit lines.

As long as you rate-shop in a concentrated period of time, you should be okay.

So, if you have trouble remembering to make your payments, set up an automatic payment plan; most lenders will give you a small discount on your interest rate for doing so.

When you know you can’t make a payment on time, talk to your lender or loan servicer right away.

However, you will give up some protections that come with government loans.

One factor that can be a red flag for FICO is the number of inquiries it receives from lenders wanting to see your credit report.

In other words, if it looks like you apply for more credit often, it could negatively impact your score.

The answer depends on whether you’re talking about federal or private student loans.

Federal loans don’t take credit scores into account, which is why every borrower gets the same interest rate regardless of financial profile.