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Knowledge Hub / When Do Student Loans Show Up On Your Credit Report?
When Do Student Loans Show Up On Your Credit Report?

When Do Student Loans Show Up On Your Credit Report?

Finances & Credit
ELFI | September 28, 2022
When Do Student Loans Show Up On Your Credit Report?

When you take out student loans as a new college student, you may think you have several years — at least until after you graduate — before your debt will impact you. So it can come as a surprise to find out your student loans can affect your credit while you’re still in school.  Most people assume that student loans aren’t reported to the credit bureaus until the loans are in repayment, but that’s not the case. When do student loans show up on credit reports? Typically, the loans appear within a few weeks of your approval and loan disbursement. And your loans can affect your credit in several different ways. 

How Do Credit Reports Work? 

If you haven’t looked up your credit reports, you may be unsure how they work. Your credit reports reflect your use of credit — including loans and credit cards — and how you handle your payments. Your creditors, such as banks or credit unions, report your information to the major credit bureaus: Experian, Equifax, and TransUnion.  Each credit bureau has its own report, so some information can vary depending on which credit report you view. The information on your credit reports also determines your credit score, which can affect your ability to get other forms of credit. Information on your credit reports include: 

Do Student Loans Show Up On Credit Reports? 

A common question college students have is, “Are student loans on credit reports?” The answer is yes; your federal and private student loans will show up on your credit reports.  Student loans can affect your credit history in several ways: 

When Are Student Loans Reported to Credit Bureaus? 

Depending on your loan type, you may not have to make payments while you’re in school. With federal undergraduate loans, your payments are deferred while in college and for six months after you leave school or graduate.  With private student loans, when your loans enter, repayment depends on the loan’s terms. You can often choose to defer your payments until after graduation, but many students opt to make partial or full payments while in school to reduce accrued interest.  Why is knowing your payment schedule important? Many people mistakenly believe that their student loans aren’t reported to the credit bureaus until the loans are in repayment. But your loans can appear as a credit inquiry on your credit report immediately after you undergo a credit check. And once your loan application is approved and disbursed, the loan is listed as an active installment loan on your credit report.  When exactly your loans show up on your credit report is based on when your lender submits your information. Lender reporting schedules can vary, but your student loans will likely appear on your credit report within a few weeks after their disbursement. 

Reviewing Your Credit Reports

Even if you don’t have to make payments while you’re in college, it’s a good idea to check your credit reports for the following reasons: 

Typically, you can view your credit reports from each of the three major credit bureaus once per year at no cost. However, the three credit bureaus announced that they are allowing consumers to view their credit reports for free on a weekly basis through 2023. You can view your credit reports at AnnualCreditReport.com