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How Student Loan Borrowers Improve their FICO Scores

May 14, 2018

In our previous blog post, FICO revealed research on the credit behavior of young people with a student loan actively in repayment to determine the behaviors that are driving FICO® Score increases and decreases. Using a nationally representative sample, we identified 10 million scorable consumers age 18 to 30 who had a student loan actively in repayment as of October 2016.To better understand the financial actions driving the “FICO Score increaser” and the “FICO Score decreaser” populations, we looked at the credit behaviors of these two groups across a variety of dimensions such as amounts owed, on-time payments, and searches for new credit. Below is an infographic which provides a more visual representation of our findings.

Spotlight

People's Leasing & Finance PLC

Founded in 1995, People's leasing and Finance PLC is Sri Lanka's unshakable leader in the leasing sector. In the past 14 years, People's Leasing has built an extraordinary tradition of excellence in all spheres of leasing and we are now the established market leader. Our customers range from individuals to SMEs to blue chip companies in every corner of the island. We have contributed immensely to the country's economic growth and the quality of life of millions of Sri Lankans.

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How Student Loan Borrowers Improve their FICO Scores