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Stella Said:can someone with a mental disorder get a way without paying student loans?
We Answered:The only way you can is to be on a disability of some kind. Even then, if you are getting a source of income, they may still make you pay.
Arthur Said:Does paying student loans increase your credit score each month?
We Answered:Paying on time each month helps your credit score, but the positive "bump" increases only a little bit each month--and as another answerer mentioned, paying down the principal balance also helps your overall credit score, so yes your overpayments also help out. But unless you're overpaying by a significant amount each month, no you're not likely to see an increase in your credit score each month--just over the long haul (years).
As the other answerer mentioned, your credit scores will drop incredibly fast if you are ever late making a payment, and some of that drop won't come back immediately once you start making timely payments again. It doesn't seem fair, does it? But that's the way the game is played.
Best of luck to you.
Kim Said:For tax purposes: I am 22 claiming myself/paying student loans/interest on loans. What is worth deducting?
We Answered:If you can deduct the student loan interest, this lowers your income. Lower income = lower tax. This is a good thing.
Miguel Said:how much does paying student loans boost credi?
We Answered:A whole lot more than not paying them would!
Jimmy Said:How to prolong paying student loans so I can travel after school?
We Answered:You can put the payments on hold by volunteering in Americorps. But you didn't know if volunteering would be right for you. I don't think there is another way.
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