By Claire Griggs/reporter

NE students learned how credit scores and student loans affect financial decisions and opportunities as well as how to establish and maintain credit scores Nov. 15.

NE financial aid specialist Joe Rodriguez gave students information to understand how building credit works and the way student loans impact credit scores.

Every year, millions of college students nationwide take out student loans, but not all of them know how to track payment deadlines and payment history, Rodriguez said.

“Only the student is responsible for monitoring his or her debt level and knowing how debt levels impact his or her credit history,” he said.

Rodriguez explained the difference between federal and private student loans. Federal loans are funded by the government whereas private loans are sourced from banks or credit unions.

Students need to ask their lending institutions about online access to loan deadlines in order to keep track of loan history, Rodriguez said.

“Students should come up with a personal plan to maintain a good credit score over time,” he said. “Pay off loans on time, take control of your spending habits, and start using auto payments for bills to help prevent late payments.”

Cancelling a credit card account negatively impacts overall credit scores because of the loss of credit history, Rodriguez said.