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Description
Most students, as well as people, do not think about their credit report or its importance. It is important to help students realize that their actions today are making a significant and important impact on their credit, which affects interest rates or credit terms on future purchases such as a house or car.
This session reveals the mysteries of credit reports. Students will learn exactly what is a credit report, what information it contains, who files the information, how to interpret it, what they can do about negative or incorrect information, and how their student loans appear on the report. They will also learn where to obtain a copy of their credit report.
Learning Objectives
- To understand credit reporting and the role of credit bureaus.
- To understand what constitutes bad credit , and to realize the importance of having good credit and how to maintain it.
- To understand the consequences of bankruptcy or of participating in Consumer Credit Counseling's Debt Management Plan on your credit and the relationship of these to your educational debt.
- To understand the importance of reviewing your credit report and how errors might occur.
- To learn where to obtain a copy of your credit report.
- To understand how to correct errors on your credit report.
- To understand how to create and maintain a positive credit history.
- To understand how to remove accurate negative information from your credit report.
- To understand how student loans show up on a credit report.
Handouts
Basic Questions About Credit Reports and Credt Reporting
Reviewing Your Credit Report
Obligations When Signing or Cosigning a Loan
Creating a Positive Credit History
The FCRA, Privacy and Your Credit Report
How Lenders Make and Monitor Credit Reports
Facts About Mailing Lists and Preapproved Credit Offers
Protecting Yourself Against Credit Card Fraud
The Use of Credit Reports for Employment Purposes
Divorce and Your Credit