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

Wealthy Parents Bribe Elite Colleges to Admit Their Children

March 12, 2019

by Scholarships.com Staff

Literally dozens of people have been charged in an admissions bribery scheme involving elite colleges and wealthy parents who wanted to get their progeny enrolled by any means necessary, including bribes ranging from $200K to $6.5M. [...]

Morehouse Prof Offers Childcare to Overwhelmed Student Parent

March 5, 2019

by Susan Dutca

A Morehouse College student who was not able to find childcare was told by his mathematics professor to bring his baby to class. Upon being taken up on his offer, the professor proceeded to teach the class with the infant strapped to his chest so the student to take adequate notes. [...]

Should This Factor Be Considered in College Admissions Decisions?

February 27, 2019

by Susan Dutca

Almost three-fourths of people surveyed by the Pew Research Center are against consideration of race when it comes to college admissions decisions. Only 7 percent believe it should be a major factor and 19 percent say it should be a minor factor. These views were reportedly shared by "solid majorities of white, black, Latino and Asian Americans."

In 2016, after the Supreme Court affirmed the right of colleges to consider race in admissions, a Gallup poll indicated that approximately two-thirds of the public disagreed with the Supreme Court. Only 9 percent believed that race should be a major factor in admissions decisions, and 27 percent said it should be considered a minor factor. The survey did not end there. [...]