Edge of Bankruptcy

Submit Enquiry

Name

Email

Phone:

Enquiry Type

Comments

Enter Code:
Captcha

Student Loan Secrets: Improve Your Credit Score and Pay Off Your Student Loans

The single biggest factor that impacts the amount of interest you pay is your credit score. People with credit scores over 750 pay a lot less interest than people with scores of lower than 650. If you can increase your credit score by 100 points, you can pay less interest, pay more principle and get out of debt more quickly. Credit score is a huge factor in who gets richer and who gets poorer in this country.

The little known secret about credit scores.

Those student loans you needed to get through college can have a huge impact on your score. That small monthly payment could be crippling your entire financial health through increased interest payments on all your other bills.

When you have any type of loan, it shows the maximum credit, the outstanding balance and your payment history. The credit score takes into consideration the total amount of outstanding balances. The more you owe, the lower the score.

You're thinking simple, right? Newsflash, it isn't.

Student loans almost always report to your credit report in triplicate. So, for your credit score, even though you may owe only $15,000, it computes your score as if you owed $45,000! This can have a huge impact on the amount of interest you pay.

Even worse, yet in Sallie Mae's eyes, your loan could look like 7 loans. Then multiply those 7 by 3 and you could have "21 Student Loans" on your credit report. This can destroy your credit score and most people never realize it. They do their best to work hard and pay their bills on time. However, they don't get the credit score they deserve because the computers foul up their student loan balances.

Only a few professionals understand how this works.

And most don't care to understand. They just buy your credit score, slap the interest rate on your loan and move on to the next person. You have to work with a professional who understands the inner workings of credit score computers. Only they can help you pay off those student loans and get you the interest rates you truly deserve.

Individuals everywhere, looking to get out of debt and begin investing can turn to the debt aide organization National Association of Responsible Lending and Investment at http://www.NARCLI.org

You may reach debt relief and investment experts via email to Question@NARCLI.org

This article is free for republishing
Source: http://www.articlealley.com/article_65324_19.html


Don't Miss...
  1. Your Mortgage Is Stealing Your Future...Your 6% Mortgage Could Be Costing 102%!
  2. How Free Giveaways Can Help Get You All the Mortgage Clients You Want
  3. Interest Only Mortgages: The Ins and Outs
  4. How To Pay Off Your Loans In Half The Time
  5. How Home Equity Loans Work - A Basic Primer
  6. Consolidate Payday Loans
  7. Can Interest Only Loans be Refinanced?
  8. Mortgages Explained
  9. Smart Ways to Trim Your Mortgage Expenses
  10. Mortgage Refinance and Credit Repair
  11. Applying For Tenant Loans
  12. Quick Online Loans for homeowners in the UK with http://www.secured--loan.co.uk
  13. The Benefits of a Mortgage Refinance
  14. Home Mortgage Financing
  15. Adjustable Rate Mortgage
  16. Payday Cash Loans Tips. About payday cash loans
  17. Avoid Loans at All Cost. 5 steps towards recovery
  18. Reverse Mortgage for Seniors - Why You Need Independent Counseling
  19. Option One Mortgage Loans – Getting An Option Arm Or Option One Mortgage Loan
  20. Consolidating Student Loans
  21. Quick & Reliable Online Loans for homeowners in the UK with http://www.yourloan.co.uk
  22. Business Loans: Proves To Be Of Great Help
  23. Unsecure Loans For Tenants For Holidays
  24. Improve Credit Score… Debt Consolidation And Credit Management
  25. Conquer Fiscal Strain with Low Cost Debt Consolidation Loans
  26. Should You Pay Off Your Mortgage Faster?
  27. Unemployed but have money through "Bridging Loans for unemployed"
  28. Types of High Risk Mortgage
  29. Negative Amortization Mortgages: Blessing or Curse?
  30. How Can We Use Used Car Loans?
Latest...
  1. Augment Your Credit Score Through Bad Debt Business Loans
  2. Tips to Improve your Credit Score
  3. Improve Your Credit Score
  4. Avail Secured Loans To Forget The Trauma Of Bad Credit Score.
  5. What is a Credit Score?
  6. There are Tons of Ways to Boost Your Credit Score, Here's 10
  7. A Benediction For Bad Credit Scorer: Bad Credit Secured Loan UK
  8. Free Credit Score Online
  9. Credit Score Repair Can Be a Reality
  10. Avail Debt Consolidation Loans To Recover Your Bad Credit Score

© Edge of Bankruptcy 2008. All Rights Reserved