The Credit Score Impact of Student Loan Forgiveness.

Student loan forgiveness could temporarily lower credit scores for some borrowers, as payment history is the most important credit category. However, the majority of borrowers will see a rise in their credit scores, and those who see a dip can rebound by making on-time payments and managing their debt. To minimize the impact on credit scores, borrowers should set up reminders and automatic payments, read communications from their loan provider, consider refinancing or consolidating loans, and contact their loan servicer ahead of time to discuss options.