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Couple questions about student loans and credit

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  • Couple questions about student loans and credit

    Hello, my name is Jessica, I am 25 now and will be finishing school now..

    Couple questions about student loans and credit.

    So, do they affect the credit score?

    I don't have any job right now, and I am constantly looking, how much time will I have to start paying them off?

    I will have around $40,000 total of debt and just want to see how it will affect my credit because I plan on buying a home in the next 3 years.

    Do student loans will hurt my credit?

    Will I need to hire a a credit repair company so I have a score of 700 at least?

    Lets say I find a job at 80k, how much should I pay them off?

    Not sure what the interest is.

    Anyway, thanks! and I hope I am in the right category!
    Last edited by jesscageorge; 18th September 2018, 03:00:AM.
    Tags: None

  • #2
    Probably the right category, however maybe the wrong country, unless your £ is broken... are you in the US ? The rules for student loan repayments are very different in the UK to the US. Here Student Loans you start repaying at 9% of your salary over £25k through the PAYE system and student loan repayments don't affect your credit score.
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    • #3
      Oh Ok.. Thanks for your Advice Let me check with some where else.if i have some queries other then ill raise here.

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      • #4
        Probably you won't need to hire a credit repair company but you definitely should deeply investigate this question and read some Pennymac reviews on loans

        Comment

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