Protect Your Credit Score Now as Student-Loan 'On-Ramp' Ends
Friday, 27 September 2024, 17:44
Impact of the End of Student-Loan 'On-Ramp'
The recent end of the student-loan 'on-ramp' signifies a challenging transition for many borrowers. After a year of paused payments, the repercussions of missed payments will soon be reported to credit agencies, potentially leading to negative credit impacts.
Strategies to Protect Your Credit Score
- Set Up Automatic Payments - Ensure timely payments by using automated banking features.
- Prioritize Payment Plans - Evaluate income-driven repayment options tailored for financial ease.
- Regular Credit Check-Ups - Keep a close eye on your credit report to catch issues early.
Seek Professional Advice
If you're struggling to navigate this transition, consider consulting a financial advisor. Expert guidance can provide personalized strategies that fit your unique circumstances.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.