financial first steps

How Student Loans Affect Your Future

Graduation marks the start of a new phase in life filled with new opportunities and responsibilities. If you took out student loans to get through school, one of your biggest responsibilities will be to pay back what you owe. How can student loan repayment affect your life?

1. It can influence your ability to rent or own a home.
2. It can help determine if you're able to buy a car.
3. It can help decide if you get a job.

These are ALL true. Paying student loans on time and in full will help you develop a good credit score. Failure to repay what you promised may ruin your credit, making it harder to get future loans, rent or buy a car or home, or obtain a job in certain fields. It can even affect if you qualify for insurance and the premium you'll pay.