Student Loans for building credit history
I`m a student and I’ve received a student loan. My credit report shows 9 Installment accounts – all from the U.S. Department of Education. All of them show “PAYS AS AGREED” in the status field.
What is the meaning of that? Is it bad for my credit or good? Anything I should do about it?
Tnank you
It’s typical for student loans to show each payout as a separate loan. This is why it may look like you have 9 separate loans, although you took just one loan.
After you graduate, you may want to consolidate the loans into one, especially if you can get a better interest rate.
As long as the loans show paid on time, it builds your credit. There’s nothing else you need to do unless those 9 loans are not all yours.
Leave a Replay
Are you sure you have 9 different account, or is it one account are you meant 9 payment?
If they are not your you should dispute it immediately!
Anyway, “PAYS AS AGREED” is in good standing.
Nothing to worry about.