When this happens, your credit score will take its first hit.
When you fail to pay on time, you have essentially violated the promissory note, which is the legal document you signed with the lender.
Luckily, a delinquent status won’t hurt you right away.
There are several ways consumers can prevent student loans from hurting their credit scores.
The key is to communicate with lenders and act early.
We are going to explain how student loans impact your credit score and teach you strategies to keep your credit in good shape while managing student loan debt.