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

Scholarships for the American Dream

May 26, 2017

by Susan Dutca

As we celebrate Memorial Day by honoring and remembering those who died while serving our country, we explore what it means to be American. In light of this, we've come up with a list of scholarships for Americans, based on a variety of criteria. Here you'll find free college scholarships for American citizens, college scholarships for ethnic-Americans, free college scholarships for veterans/military scholarships, and more! If you're proud to be an American and believe in the American dream – whatever that may entail, then check out these patriotic college scholarships for 2017 and help fund your American dream: [...]

Department of Education Seeking Single Loan Servicer

May 23, 2017

by Susan Dutca

The U.S. Department of Education will offer a contract to a single loan servicer to manage its $1.2 trillion student loan portfolio, which contains over 43 million borrowers. Instead of keeping its current contract with four different services, the ED will award Navient, GreatNet or the Pennsylvania Higher Education Assistance Agency (PHEAA) the contract. What exactly does this mean for borrowers? [...]

Private Colleges Offering Free College Scholarships, Grants, & Discounts at Historic Levels in 2017

May 16, 2017

by Susan Dutca

The chances of getting into a private college at a significantly discounted price are fairly high these days, according to a new report by the National Association of College and University Business Officers. But have students always paid those crazy expensive college tuition costs? [...]

Follow Us:

facebook twitter rss feed