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Do Student Loans Affect Your Credit Score?

If youu2019ve ever been to uni, thereu2019s a good chance you took out a student loan. For many people, this will be the first kind of loan you ever encounter, and possibly the biggest unless you go on to take out a mortgage. So surely a loan like this will impact your credit score?

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Do Student Loans Affect Your Credit Score?

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  1. DO STUDENT LOANS AFFECT YOUR Credit Score? Understanding how student loans work can help you manage your finances better. Here’s what you need to know. Student Loans & Credit Scores Your student loan does not impact your credit score. Payments are taken automatically based on income, so missed payments aren’t tracked like other loans. Impact on Other Borrowing While not on your credit file, student loan deductions affect your take-home pay — and lenders do look at that when considering mortgages. Checking Your Balance Head to the Government’s student loan portal. You’ll need your reference number and login info. Lost them? Request reminders or check old paperwork. Want to build your credit the easy way? Get a credit-building SIM with Boshhh Mobile — on-time payments = better credit score https://boshhh.com/

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