to pay or not pay

[Kat78]

I have couple student loans that are less than 2000 to pay off. Question is at tax time would it benefit my score to pay off student loans in full? Will i see boost in my score?

[Jasir]

My understanding is yes, your score may possibly raise. Even without a score raise I think it is beneficial for your to pay off your student loan if you are capable of doing so.

[notfancy]

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@Kat78 wrote:

I have couple student loans that are less than 2000 to pay off. Question is at tax time would it benefit my score to pay off student loans in full? Will i see boost in my score?

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What else is on your credit report? Do you have any negative accounts or credit cards? If you do, it might be wise to consider paying those (or paying down your CCs) rather than your student loans, as the loans probably have less interest and they affect your score a bit less than revolving cards would.

[tntexans72]

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@Jasir wrote:

My understanding is yes, your score may possibly raise. Even without a score raise I think it is beneficial for your to pay off your student loan if you are capable of doing so.

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+1

Your score will raise when you pay down your debt or student loan. Regardless if it's a charged off.

[Kat78]

Have credit cards 2 to be exact, but I keep those down, and pay in full. Only other baddies I have is collection for 63 and 74 dollars in 2009, 2010. I'm working on those now too. I think my worst problem was late payments. However I set auto pay 10 months ago and have not had a late since. 

[Kat78]

The student loan are also current still make monthly payments and thes. Have been taken out monthly directly through checking account for past 6 years.