Sallie Mae has announced that it will provide student loan borrowers with loans disbursed in the 2014-2015 academic year with a free FICO score that is updated quarterly. In addition to this free score Sallie Mae will also provide borrowers with a few other credit basics:
- Information on how the FICO score is calculated
- Two key factors affecting your score
- General questions and answers about credit
Sallie Mae will be providing their borrowers with a FICO score based on data found in the customers TransUnion credit report. This will most likely be the 2008 classic model, but Sallie Mae/FICO have neither confirmed or denied this.
[Read: Types Of FICO Scores]
If you don’t have a loan that will be disbursed in the 2014-2015 academic year, then you have plenty of other options when it comes to getting a free FICO score. You can view a full list of these methods here. FICO score is the most commonly used credit score in the United States, there are also a number of sites that provide free credit scores (often referred to as FAKO scores). These scores are generally not the same scores that a lender will see. Some of these sites are as follows:
You can view more information about this offering by visiting the following page: http://www.salliemae.com/landing/fico/
