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

University Suspends Free Yoga Class Over "Cultural Issues"

November 24, 2015

by Susan Dutca

The University of Ottawa recently suspended their yoga class after students raised concerns that the exercises were offensive and a form of "cultural appropriation." Instructor Jennifer Sharf, who teaches the class for free, feels "people are just looking for a reason to be offended by anything they can find." The Student Federation, who also happen to be the ones to invite Scharf to the [...]

International Men’s Day Cancelled Following University Male Student’s Suicide

November 19, 2015

by Susan Dutca

According to Breitbart news, a 21-year old student at the U.K.'s University of York committed suicide 24 hours before the university's cancellation of International Men's Day. After 200 feminist campaigners, students, staff and alumni expressed their fury over a professor's comments about International Men's Day, the university decided to not observe the November 19 holiday and instead continue [...]

International Men's Day Cancelled at University After Complaints Surface

November 17, 2015

by Susan Dutca

The University of York cancelled International Men's Day (IMD) on Thursday after outraged students, staff, and alumni protested comments made by a male faculty member and requested an apology for "the manner in which it [the release] was framed." Dr. Aidan Lee of the University’s Equality and Diversity Committee stated that "[although there's focus on] raising awareness about - and removing [...]

Follow Us:

facebook twitter rss feed