Does consolidating my student loans hurt my credit speed dating events in ireland

15-Nov-2019 01:57

If you’re considering refinancing your student loans, you’re off to a great start in optimizing your debt repayment.

Student loan refinancing can help you save money on interest, achieve more favorable repayment terms, and simplify your monthly payments. If done right, refinancing has minimal impact on your credit. The act of refinancing your student loans doesn’t cause a great deal of damage to your credit.

Shopping around for the best deal from many of the top student loan refinancing lenders begins with a “soft” credit check, which has no affect on your score.

If you find an offer you like and move forward with a full application, a hard credit check is performed.

It is a little confusing because after you graduate, you probably will write one check to the lender each month to pay for the entire amount you borrowed.

For such installment loans, the important factors are how much total debt you owe and, of course, most importantly if you have missed any payments. It can be helpful if you have education debt from multiple lenders or student loan guaranty companies.

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

Student loans are the ultimate double-edged swords.

Your first bill may arrive right after you graduate, ushering in your new bill-paying, over-financed life.

You also may have a hard time paying off your loan if you’re too busy paying off the credit card you were given a t-shirt to apply for.

For such installment loans, the important factors are how much total debt you owe and, of course, most importantly if you have missed any payments. It can be helpful if you have education debt from multiple lenders or student loan guaranty companies.

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

Student loans are the ultimate double-edged swords.

Your first bill may arrive right after you graduate, ushering in your new bill-paying, over-financed life.

You also may have a hard time paying off your loan if you’re too busy paying off the credit card you were given a t-shirt to apply for.

But you’ll only lose five points or less off of your FICO score.