Uploaded September 2022 | Updated September 2026, 2 days ago

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Last month, the White House announced a sweeping plan to forgive the student loan debt of millions of Americans, canceling up to $10,000 in debt for some borrowers and $20,000 for those who received Pell Grants. If you took out student loans, they have an effect on your credit score no matter what (they are loans, after all). And for the millions eligible for student loan forgiveness, this upcoming change to your loan status will lead to changes to your credit score, potentially for the worse—if only for a little bit. Here’s what to know about how student loan forgiveness might impact your credit score.

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