If you have a student loan, here's something you need to know. Although default is more serious than delinquency, even delinquency can be reported to credit bureaus. A delinquency notation remains part of your financial history and could affect your credit rating. Repaying your loan on time will help you establish and maintain a good credit rating, which is crucial when you want to buy a car or a house, or even if you want to rent an apartment. Sometimes, your credit rating can even affect whether you'll be selected for a particular job. So, it's important to keep paying on your student loans!