Why Does My Credit Report Show Twice The Number Of Student Loans Than I Have? Help!


Dear Kim,

I am in my junior year of college and have received federal student loans to pay for the three years I have been here. 

I am taking a finance class and my professor had us all pull our credit reports.  There are six different loans on my report!  I only took three and I am not sure what is going on.  They all have different account numbers as well. I contacted the loan servicer and they informed me that I owe all six. I am now afraid to apply again for next year.  Can you explain what is going on?

Thank you,


Dear Rick,

I have gotten this question many times from college    students.  Students fill out the Free Application for Federal Student Aid (FAFSA) once per year; however, they are  granted a loan for each semester.  In your case, you have attended six semesters, so you have received the proceeds from six loans.

At this point, I would be more concerned with the total amount you are borrowing as opposed to the number of loans listed on your credit report.  Please keep in mind that once you graduate from school, you will need to begin repaying the loans.  A good rule of thumb is to not borrow more than you will earn your first year out of school.

Paying your student loans on time is very important.  Student loan default can cause significant credit issues and prevent you from receiving certain professional licenses.

If you have further concerns about your student loans, please reach out to one of our Student Loan Counselors at 1-866-592-4557.

Good luck!


Why does my credit report show twice the number of student loans than I have? Help!


Kim headshot 3

Kim Cole is the Education Outreach Coordinator for Navicore Solutions. Kim provides financial education workshops and seminars to communities. Readers can submit general questions relating to personal finance, credit scoring, debt management, student loans, home finance or bankruptcy which may be highlighted in the next month's edition. All identifying information will be kept anonymous.

Please send your questions via email to DearKim@navicoresolutions.org




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