Because creditors look at debt to income ratios, having your student debt considered is not fair. Student debt cannot be discharges in bankruptcy and it has certain payback options that actually raise the amount of the principle over time which creates an income to debt ratio that is unrealistic and unfair! If a student graduates, but cannot find a position in their field and if the education they acquired cost them over $150,000, they cannot get credit if they work for $50,000 a year and pay all of their bills on time because they only make 1/3rd of what they owe. This skews their credit rating! Please amend the Fair Credit Reporting Act (FCRA) to state that student debt should not be allowed to be reported to the credit bureaus unless the debtor is in default.
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