Many education loan borrowers can enhance their credit history by refinancing or consolidating their figuratively speaking. Unfortuitously, perhaps not an increase is seen by all borrowers. Some borrowers could see their rating visit refinancing or consolidating.
The impact on a borrower’s credit score is usually similar though federal direct consolidation and private student loan refinancing are very different processes.
We will discuss the factors that can cause the credit score to increase and the circumstances in which a credit score can drop today. We shall additionally talk about the reasons that a credit rating change really should not be a concern or consideration for the majority of borrowers. Continue reading “will it be bad or good for my credit rating?”