Step 1 - Start Your Financial Future

How you manage student debts will help you to shape your financial future, because your repayment history and details of the amount of credit you have taken on - such as bank loans or credit cards - will be registered on your credit report.

This is the personal history of your credit commitments, although loans taken out with the Student Loans Company are not currently included - but any other credit will be. It also includes other information, such as any court judgments against you. Lenders check it, along with the information on your application form, when they decide whether to make you an offer and what interest to charge.

If your report shows that you make repayments on time and don't take on more than you can manage, you should find it easier to get better deals. It can even influence your ability to get a job or rent a home, because landlords and employers may also ask to check it. They can't usually see your credit commitments but they can check whether you have handled any court judgments or a bankruptcy order against you.

Click here to read more from InterStudent.co.uk