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SALLIE MAE deferred loan - NEED ADVICE

Established Contributor

SALLIE MAE deferred loan - NEED ADVICE

I have a loan w/sallie mae $8000 deferred until the end of February 08.  The account is in good standing w/ EQ and TU.   A few lates were recorded with EX back in 2004 (not in good standing). 
 
My question is should I start making my payments on the loan or should I apply for it to stay deferred.  Im trying to bring my score up so please let me know which is better.
 
Thanks for any help!
Gardening since 5/3/2016
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Established Contributor

Re: SALLIE MAE deferred loan - NEED ADVICE

Another question I meant to ask which looks better when buying a house having the loan in deferment or paying on it??
 
thanks!
Gardening since 5/3/2016
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Valued Member

Re: SALLIE MAE deferred loan - NEED ADVICE

Not sure which one looks better, but just so you know, you are only in deferrment while you are ATTENDING school. If you are out of school, you are in a forebearance and interest is being added onto your principal balance. I would start making payments on it just to avoid all that extra interest. Or if you do apply for a forbearance, keep making payments monthly anyway so you aren't faced with a huge balance at the end. Smiley Happy I started with only $7,000 in loans and now owe over $11,000 for interest. Smiley Sad
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