Student Loan Servicers Are Dinging Credit Reports For The CARES Act Forbearance | Forbes


Robert P., a student loan borrower from Queens, New York, was surprised to find out that this credit score had dropped by 100 points after his federal student loans serviced by Great Lakes Higher Education were automatically placed into a forbearance. This happened following passage of the CARES Act. Another borrower named Ashley Higgins experienced a credit score drop during the same time period and told a local news affiliate about what happened. Other borrowers (who wished to remain anonymous) have reported similar credit score hits, as well.

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