Why Does My Credit Score Matter?
Learn Why Your Credit Score Matters
When you apply to get a private loan, lenders take a look at your score to decide whether they want to provide you funds, and at what interest rate.
Students with poor credit scores, such as those who have missed payments in the past, may have an easier time getting a loan with the federal government, which doesn’t charge different rates for different credit scores.
For undergraduate students who haven’t developed a good score yet, private lenders prefer to see a co-signer – someone like a parent who is the “backup plan” if you don’t pay back your loan.
Regardless of your credit score, take a look at our deals to ensure that you’re aware of all your options.
SmarterCollege came into existence to help students and families save money through scholarships, student loans and other financial products. The SmarterCollege Team has worked with tens of thousands of students and families to help them save money.
Related ArticlesView All Articles
Best Student Discounts You Can Get With An ID or .edu Email
You can save a lot if you're a student. Here's how.Read more
How to Open a High-Yield Savings Account as a College Student
Managing and saving money is essential for college students. Read on to learn about the benefits of high-yield savings accounts and how to open one.Read more
Which Bank of America Student Credit Is the Best Fit for You?
If you're wondering which Bank of America student credit card is the best fit for you, read on to learn more about the differences between the two options.Read more