Student Loans

Do Student Loans Affect Your Credit Score – HOW STUDENT LOANS AFFECT YOUR CREDIT SCORE | How Student Loans INCREASE and DECREASE Credit Score

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Do Student Loans Affect Your Credit Score – How to Choose

This video is about how student loans can affect your credit score and how student loans can increase and/or decrease your credit score.

I always thought that paying off your student loans will increase your credit score because you do not have the debt anymore. However, I was wrong! Your credit score can DECREASE when you PAY OFF your student loans completely! -mindblown-

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P R E V I O U S V I D E O S :

✨ HOW TO INVEST AS A BEGINNER (Without Buying Stocks or Real Estate): https://youtu.be/WijgjgTqg0Q

✨ 10 Ways You’re Losing Money / Money Saving Tips and How to Spend Less to Save More Money: https://youtu.be/aYDV9BSiBiE

✨ HOW TO: Choose a High Yield Savings Account (HYSA) | Grow Your Money While Sleeping 😴: https://youtu.be/jeLqw7lKPSk

✨ Should You Invest or Pay Off Student Loans? | Finance for Beginners: https://youtu.be/4W38jLZzBFU

✨How To: GET 800+ CREDIT SCORE | Finance for Beginners: https://youtu.be/V-u0Wb60FFk

✨ HOW TO: Save Money Eating Out (At a Restaurant) | Eating Out On a Budget: https://youtu.be/x46PahzjDR8

✨ How To Stay Motivated When Paying Off Student Loan Debt | My Student Loan Debt Journey: https://youtu.be/ADJTiSrvbns

✨ Which One is Better? Debt Avalanche vs Debt Snowball? | Paying off Student Loan Debt Fast: https://youtu.be/qliCZ_mJ_iU

#studentloans #creditscore #howstudentloansaffectcreditscore
*Disclaimer: I am not a financial expert or professional, please do not take anything I say as professional advice πŸ™‚ Everything in this video is for entertainment purposes. All numbers are accurate as of posting date. Please seek a professional and do your own research when it comes to your own financial decisions.

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34 Comments

  1. Jewel Brock
    July 22, 2021 at 10:10 pm

    I like your glasses

  2. r lewis
    July 22, 2021 at 10:10 pm

    Currently working to increase my credit score, if I get another school loan will it lower my scores?

  3. Annabeth Hollie Griffith
    July 22, 2021 at 10:10 pm

    I filled bankruptcy on a vehicle and when i did they put my motorcycle in with it since i was still paying on it but just found out it still shows on my credit that my motorcycle still has an open account with the finance company and says ive missed payments since last April, but its suppose to be under chapter 13 bankruptcy, I've went through some really tragic moments that damaged my credit but after meeting SolutionX, every negative items were deleted along with my BK Chapter 13, this changed my life and I am now in the 800 club with a clean reports and debt free. contact send your request and mail to f i x x h a c k x s p y Β  @ Β  g m a i l , c o m Β .
    Β for any of your credit problems.

  4. Victor gutierrez
    July 22, 2021 at 10:10 pm

    I have students but I do t have to pay them yet because I don’t graduate until next spring. Does that mean if I make weekly payments then my payment will increase and so will my credit or should I just make a payment once a month?

  5. James Longwood
    July 22, 2021 at 10:10 pm

    So informative

  6. Traveling Well For Less
    July 22, 2021 at 10:10 pm

    Great explanation. A lot of people don't realize how a student loan impacts their credit score.

  7. Alexis Marcelo
    July 22, 2021 at 10:10 pm

    Student loans is one of the reasons why my credit score is high. Great informative video!

  8. Josephina Purpura
    July 22, 2021 at 10:10 pm

    What!? Great info, thank you for sharing – such an informative video

  9. dolphmanity
    July 22, 2021 at 10:10 pm

    This other guy on YouTube says you should pay down your student loans to about $100, but never pay them off. Just set up a direct deposit of $1 for forever. There is no minimum payment for installment loans and the interest on $100 would be minimal. France, what do you think? Is he right?

  10. Ready2Adult PH
    July 22, 2021 at 10:10 pm

    The credit score system is so confusing πŸ˜‚ But at the same time, it would be nice to have one here in the Philippines.

  11. Cash Ninja, CPA - Personal Finance
    July 22, 2021 at 10:10 pm

    Awesome video and great insight, liking and subbing! Student debt is such a wild topic. The 5 factors of the FICO calculation are definitely things more people need to know about before tackling their debt.

  12. Tim Leak
    July 22, 2021 at 10:10 pm

    Great breakdown of credit. It’s so important when borrowing money. Student loans can be a lot to deal with for anybody. You have great content. New sub πŸ‘πŸΎ. Look forward to watching you grow πŸ’―

  13. namaste nadine
    July 22, 2021 at 10:10 pm

    hi france, thankyou for another helpful video!!

  14. Daddy Debt
    July 22, 2021 at 10:10 pm

    Pay it off as soon as you can! Thanks for sharing your journey. New subscriber here to support your journey!

  15. Mixed Flaves
    July 22, 2021 at 10:10 pm

    this is awesome, here's a hug from a new friend in Ireland, see you soon on my vlogs #MixedFlaves..

  16. Alex Peroff - Personal Finance and Philosophy
    July 22, 2021 at 10:10 pm

    While I'm lucky and never had student loans, I had no idea that your credit score could go down as a result of paying off your student loans. Super informative thank you!

  17. Literarily Smitten
    July 22, 2021 at 10:10 pm

    This was so informative. I knew some of this but definitely not with the level of detail! It blows my mind that paying off a student loan will lower your credit score. Great video!

  18. Jonny A
    July 22, 2021 at 10:10 pm

    Great video. New sub here

  19. Financial Dragon
    July 22, 2021 at 10:10 pm

    This topic is so important! Really nice to see somebody increasing the awareness πŸ™‚

  20. Always Overcoming
    July 22, 2021 at 10:10 pm

    Love this informative video! It’s so helpful to me to know right now also! Keep it up!

  21. Madhusri Kitchen
    July 22, 2021 at 10:10 pm

    Looking beautiful πŸ‘Œ fully watching
    I joined ur channel πŸ””βœ”οΈ done
    Hope you join my channel πŸ”” and sub πŸ™

  22. ARNITA 399
    July 22, 2021 at 10:10 pm

    Hay,,, β€οΈπŸ‘‰πŸ–€πŸ€

  23. Richard Hernandez
    July 22, 2021 at 10:10 pm

    I may be wrong but I heard that if you let your student loan go in forbearance. When it come time to refinance your student loan to a new lower interest rate, the banks will deny the refinance for the simple reason that you use the forbearance and are now a credit risk, no matter your credit score.

  24. Carlos Vazquez - Cryptocurrency
    July 22, 2021 at 10:10 pm

    Woah very detailed! Thanks for sharing your knowledge. I avoided student loans entirely, starting life off already in debt was definitely something I didn't want. Great video France, loved it! Looking forward to seeing your future content πŸ™‚

  25. Lukas - Real Estate & Investing Channel
    July 22, 2021 at 10:10 pm

    This is so important to know. Thank you France! Amazing explanation.

  26. Davy Yap
    July 22, 2021 at 10:10 pm

    It is so silly that paying off student lows can lower credit scores.

    Also, love your new glasses. Gotta protect them eyeballs. I want light protecting ones, or Lasik in the future.

  27. Mirei Sakane
    July 22, 2021 at 10:10 pm

    Whaaat I had no idea that student loans even had the potential to decrease your credit score! Thank you so much for this information France! Your videos keep getting better and better and I'm looking forward to the next one πŸ™‚

  28. UK Finance with Lee Williams
    July 22, 2021 at 10:10 pm

    Great video really well explained

  29. the creative explorer
    July 22, 2021 at 10:10 pm

    Really like those glasses! Well that's good to hear that at least the student loan will increase the credit score.

  30. Frank Mtong Gabriely
    July 22, 2021 at 10:10 pm

    Thehackstation,com are genius

  31. Frank Mtong Gabriely
    July 22, 2021 at 10:10 pm

    Thehackstation,com are genius

  32. Your Neighbor Jenny
    July 22, 2021 at 10:10 pm

    I was mind-blown too when I found my credit score increased when I borrowed student loan. It was like backwards thinking for me. Your explanation really helped me understand why it is so!

  33. Wine n' Chill
    July 22, 2021 at 10:10 pm

    This was super helpful! I've been wondering about this as I've definitely noticed a change in my credit score once I started paying my student loan debt down.

  34. EasyWealthBuilding
    July 22, 2021 at 10:10 pm

    I didn't know that either. Nice to learn this from you.