Do student loans affect a credit score?

Student loans are a major financial commitment and not just because of the long road to repayment. They can also have a bearing on your credit score — and by extension, your overall financial health and borrowing capability.

The good news is that the impact of student loans on credit is not necessarily bad, though it certainly can be. Rather, “student loans affect your credit score in much the same way other loans do: Repaying the loan on time will strengthen your credit; paying late will hurt it,” said NerdWallet. There is a little extra buffer when it comes to student loans and your credit too, as they “may give you extra time to pay before you’re reported late.”

How do student loans impact your credit score?