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The credit limit is the initial amount of your student loan. It helps keep your student loan from skewing your debt to credit ratio which can lower your credit score and make it more difficult to get credit.

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Q: Why is my student loan reporting a credit limit?
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Related questions

Will a private student loan that is currently deferred negatively affect your credit score?

It will appear as an obligation and as such limit the amount that will be considered for total monthly payment. No I don't think it will affect your your credit score.


What happens if you default on a graduate student loan?

Most loans have consequences when you default like reporting negatively to the credit bureaus, garnishment of wages to repay the loan, ineligibility to get another student loan if needed; many late fees, and even a lawsuit to collect on the loan.


Does a parent's credit score affect student loan?

If the student loan is taken out in the name of the student then no. The student's credit score is separate from anyone else's. If the student loan is taken out in the name of the parent or with them as cosigner then yes - their credit scores would come into play.


Where can a student get a student loan that has no credit bad credit and parents don't qualify as cosigner and gotten all federal loans I gualify for?

where can I get a student loan that has no credit and parents dont qualify for a loan and I have gotten all federal loans


Age limit on stafford loan?

What's the student's age limit for Sallie Mae PLUS loan?


What does aggregate loan limit mean?

Aggregate loan limit is the max amount you can take out in student loans. It's like a credit card, if you max out the card, you have to pay down the principle balance before you can use that card again.


What is a tradline?

any credit line that you have- credit card, car loan, mortgage and student loan


Can a student get a loan with bad credit history?

== ==


Can a student get a loan without credit?

yes


Can your child get a student loan if you have bad credit?

NO


Can you get a student loan if you have bad credit as a student?

yes no maybe so depends on bad your credit actually is


Can you co sign a student loan with bad credit?

In the USA, if the student loan is Federal like a Stafford or Perkins loan, then yes you can cosign with bad credit. If the student loan is a private student loan, then no, you must have good credit. Keep in mind, you should never take out private student loans out until you have used up Federal loans, grants, and scholarships. Private student loans have high interest rates and no benefits.