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Post by Nick the Quick on May 12, 2012 16:45:46 GMT -5
I am a college graduate and just lost my job. The question I have is, to anyone else who may have student loan debt, does deferment (putting a temporary hold on your loan payments) damage your credit score? I am wondering this because money is tight right now and I am unsure when I will be employed again. Deferment will give me a chance to bide my time somewhat to find a decent job, but I don't want to damage my credit score in the process. Any advice would be greatly appreciated.
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Post by T R W on May 13, 2012 7:07:37 GMT -5
Deferment does not damage your credit. The loan company is agreeing to let you not make payments for a certain amount of time. However your loan will most likely still accrue interest during this time. But make sure that your loan status is always set to deferment, because deferments expire unless you renew them.
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