The Fed reports that a delinquency on a student loan payment can lower a person's credit score by 171 points. Those with excellent scores of more than 760 could lose this many points, while those with scores between 660 and 759 may face a drop of 165 points.

As delinquent student loans begin showing up on credit reports for the first time since the pandemic, millions of borrowers could see a serious hit to their credit scores, economists warn.