 TITLE: Qualifying for Student Loans: What You Need to Know CONTENT: Understanding the Impact of Student Loans on Your Credit\n--------------------------------------------------------\nIt's important to know that taking out student loans does have a major impact on your credit, so you should only use them if you know you can repay them. Just like any other form of debt, your student loans will go on your credit report. The amount you've borrowed and your repayment history factor into your credit scores, even if your loans are deferred. This means if you apply for a credit card or another form of debt, lenders will consider your loans and your ability to repay them when deciding whether to extend you more credit.\nIf you miss payments or default on your loans, it will negatively impact your credit scores, which can make it harder to be approved for other credit in the future.\nThe good news is, student loans can also help you build credit. Paying your loan bills on time every month will show lenders you can handle credit responsibly, which could help you secure loans or credit cards in the future.\nIf your family doesn't have enough money to pay for college and scholarships aren't in the cards, student loans can be a great way to pay for your education. Just make sure you fully understand the requirements and terms of each loan, and be certain you can repay the loans since failing to do so can harm your credit. END