Money Tips for Students, November 2013

Students should be aware of their credit report

Students should be aware that they are building a credit report whenever they take out a loan, even a student loan, according to the Kentucky Higher Education Assistance Authority (KHEAA).

A credit report shows everything about your past and current credit history. It will list every loan you have, to whom you pay it, your loan balance, your credit limit and if you pay early, on time or late.

The report itself does not tell potential lenders if you are a good or bad credit risk. It simply provides the details the lenders can use, along with a credit score, to make that determination.

Other information on your credit report includes:

  • Your personal identifying information.
  • Any public records such as tax liens, court judgments and bankruptcies.
  • A list of any company that has requested a copy of your credit report.
  • Any statements you have submitted disputing something in the report.

Your credit report should not show your bank balance, race, religion, income, criminal record or driving record. Nor should it have anything about your health, although medical bills may show up as debt.

To get a copy of your free annual credit report from each of the three credit bureaus, go to

KHEAA is the state agency that administers Kentucky’s grant and scholarship programs. It provides free copies of “It’s Money, Baby,” a guide to financial literacy, to Kentucky schools and residents upon email request to .

To learn how to plan and prepare for higher education, go to For more information about Kentucky scholarships and grants, visit; write KHEAA, P.O. Box 798, Frankfort, KY 40602; or call 800-928-8926, ext. 6-7372.


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