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LT

Joined: 30 Jan 2009
LT's page
Posts: 64

2178 Magic Points

Subject: Student loans

Fri Mar 06, 2009 3:37 pm

If you pay on you pay on your student loans instead of having them deferred with this increase my credit score?

Nina97488g

Joined: 08 Feb 2009
Nina97488g's page
Posts: 8

309 Magic Points

Fri Mar 06, 2009 4:01 pm

I used the scorewatch and buy the scorepower a couple of times a year and as far as what I can tell, the use it to figure as part of your credit utilization.

carol

Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California

29592 Magic Points

Mon Mar 09, 2009 7:12 am

Hi LT
Credit history and amounts owed are the major determinants in your credit score. Now, if you repay back the students loan on time, you will not only improve your credit history but also reduce the amount owed factor. So definitely it will give a major push to your credit score.
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Keep in touch
Carol

LT

Joined: 30 Jan 2009
LT's page
Posts: 64

2178 Magic Points

Wed Mar 11, 2009 1:50 am

Carol, thanks for the advice!!

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1498

111 Magic Points

Subject: student loan

Thu Mar 12, 2009 4:39 am

I have a student loan I've been paying on for a while (never late on payments). I've had my loan Defered a few times. However.......it didn't seem to effect my Credit score at all. However, remember, when you have a loan on Deferment, the % still accumlates.

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