The actual debt (though 150K is not chump change) will not have a major impact on your scores. It's an installment TL (tradeline). The most important thing to do is PAY ON TIME. NEVER be late. Defaulting or paying late on an SL (student loan) will drop your scores and requesting to remove the negative information they report to the CRAs is nearly impossible. Just pay on time and you will not be scr*wed.
monro411 wrote:How much impact will student loans have on your credit? I have about $150,000 worth of student loans. I will not be able to pay them off for a while. In reading this forum, I noticed many people are paying off their student loans in order to improve their credit. I only hope to make enough money to pay mine off in 10 years. Am I screwed?