i am in the process of going through the william d ford direct loan consolidation program. because i have some defaulted loans, i have to take the income contingent plan. my job provides housing and most utilities and a small salary beyond that, but because i cant claim my housing and utilities as monetary compensation even tho they are part of my compensation package, my income shows as very very low.

result is that my monthly payment is 0.00 on a consolidation balance of 102k

im wondering if Direct Loans reports payments on the Ford consolidation loans to CRAs? also, will they still report it even if my payment is 0? if i pay a little bit every month anyway will that be reported? do student loan repayments on this type of consolidation loan affect your credit positively or negatively?

trying to get a grasp on how and if this is going to impact my credit, which is already tanked but something i am actively starting to work on recovering.

azurecrayon said:because i have some defaulted loans, i have to take the income contingent planStudent loans I assume. I am sure they will accept a payment larger than the 0.00 required You can check you credit report each month to see if they report the payment, but their report of any such payment is not likely to help your credit score anytime soon.

Maybe get a secured card for $19 a year.

over half of the 102k is fees and interest. i was in school for 6.5 years actually, not 4. and last time i checked, peanut butter and top ramen wasnt considered gourmet. i was a non-traditional student, so didnt have access to a lot of the financial aid available to students starting directly after high school. also both parents deceased, so couldnt go the cheaper route of living at home while i went to school. and yes i went to the cheapest in-state university available.

we arent all perfect!