When are the loans placed on your credit report?

[jeepgirl20]

Are they put on your credit report when you obtain the loan or are they put on your CR when you graduate and your loan comes out of forbearance?

[jeepgirl20]

I called sally mae today. They said its only when it goes out of forbearance. Just so everyone knows....

[jayhawk1979]

I work for a student loan lender and also have many loans myself. While you are in school, federal loans are in an in-school DEFERMENT. They are also reported as such during that time.

[fla-tan]

Are they put on your credit report when you obtain the loan or are they put on your CR when you graduate and your loan comes out of forbearance?

 

jeepgirl

 

According to the Student Loan Manual, Stafford Loans are supposed to be reported to at least one national credit reporting agency once they are issued and dispersed.

 

 

fla-tan

[Guest LesterTheNightfly]

Are they put on your credit report when you obtain the loan or are they put on your CR when you graduate and your loan comes out of forbearance?

 

The answer is whenever & however & wherever the servicer or lender feels like. If you believe otherwise try to straighten out an error and you'll quickly learn that I'm right.

[ajile81]

I just got my first disbursement on my student loan in August (for classes last May, took a while with the paperwork), and it has already posted as a loan in deferrment on my reports. Now, I have no clue what impact that had on my scores, as I had stopped looking at my reports for a bit (scores are 50+ points lower than in 2001, with less negs, more positives, and better payment history). I think much of when it is reported depends on the servicer.

[kimspractice]

I got my first disbursement end of January, and today both student loans are reporting, on Equifax only. It has initially dropped my score 5 points. Don't know if it will drop more before it goes back up.

The loans are reporting correctly, and they are listed as being in deferrment.

[kimspractice]

Well, now...both student loans are on EQ and EX. And my score has jumped back to where it was before....paid as agreed for Jan. and Feb....