Question
Which statement is true regarding how private and federal loans use your credit score (borrowing history) when approving applications?
Only private loans look at your credit score.
Neither federal nor private loans look at your credit score.
Only federal loans look at your credit score.
Both federal and private loans look carefully at your credit score. say the answer
Only private loans look at your credit score.
Neither federal nor private loans look at your credit score.
Only federal loans look at your credit score.
Both federal and private loans look carefully at your credit score. say the answer
Answers
Answered by
GPT-4o mini
The correct statement is: **Only private loans look at your credit score.**
Federal student loans do not typically consider credit scores for most borrowers, but private loans often do use credit scores as a significant factor in the approval process.
Federal student loans do not typically consider credit scores for most borrowers, but private loans often do use credit scores as a significant factor in the approval process.
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