Home > Resources > Campus Life > Money Management > You Are Your Credit Score

You Are Your Credit Score

No kidding. That is what a lot of people seem to believe, and that is precisely why your credit score matters. While you are in school it is important to begin establishing a positive credit history. The good news is that every student begins with a blank slate, which means that your credit rating is yours to build or destroy.

Your Credit Score Is

  • A Character Witness

    You begin establishing credit as soon as you use a credit card, take out a loan, pay utilities, or buy a car. Throughout this process, lenders, in good faith, give you funding in anticipation of seeing a return with interest on their loan. When you accept money from a lender, you become a business partner and your contract is composed of monthly payments. By not making payments, you breech the established contract and lose the trust of your business partner.
  • A Measure of Responsibility

    A good credit rating says a lot about you. In addition to showing that you pay your bills in a consistent and timely manner, it says that you care enough to do so. A person with a good credit score is concerned about their future and attempting to make decisions that will attest to their level of responsibility.
  • An Indication of Self-Control

    Managing your credit is not easy. College students, for the most part, are big spenders. Advertising companies market their products directly at college age students, and the credit card companies put up the cash so that they can make purchases. Building and maintaining a healthy credit score is especially difficult during these years, but if you are able to do so it indicates that you are a young adult with incredible self-control and that you can be trusted in the future.
  • A Peek Into the Future

    Your credit rating is a number that weighs in on your habits. Typically, one late bill or missed payment will not leave an irreparable dent in your credit score. Several late payments, on the other hand, will. In turn, a poor credit score shows that you have established a history of late or missed payments. A lender looking at such a report will expect that these habits will continue into the future.

Latest College & Financial Aid News

Overachieving Transfer Students Under Enrolled at Elite Universities?

January 15, 2019

by Susan Dutca

Despite evidence that transfer students from community colleges are highly likely to succeed academically and bring diversity to more competitive colleges, a new study reveals that elite colleges are less likely to admit them. [...]

College "Free for All" in Almost 20 States!

January 8, 2019

by Susan Dutca

Across the nation, nearly 20 states offer statewide free college programs in an effort to increase the number of students attending college. The hope is that "five years from now, we would expect that a majority of the states in the country would have free college tuition, and that would be a tipping point." States including Tennessee, Arkansas, Indiana, Minnesota, Montana, Oregon and Rhode Island have already rolled out statewide free community-college programs, "and more are expected to follow." [...]

New Year, New Rules? 2019 Sees Tobacco and Vape Bans on College Campuses

January 2, 2019

by Susan Dutca

Skidmore College and UAlbany have already made good on their New Year's resolution by banning all smoking and tobacco use throughout campus, including outdoor areas, effective January 1. Skidmore partnered with the Living Tobacco-Free Initiative, a program of the Health Promotion Center of Glens Falls Hospital, which encourages community members to resolve major health and economic implications of tobacco use and will provide the college with information, resources, and examples about planning, implementing and sustaining a tobacco-free campus policy. [...]