Does consoldating SL's Impact FICO Scores?

[Anonymous]

Greetings FICO Friends!

I am trying to get approved for a USDA loan..

I have 14 student loans totaling 55k.

USDA to me that if I wil not qualify if I keep these loans in deferment because they wound have to calculate my student loan monthly payment as 1% of my 60k balance, making my debt to income ratio too high. She suggested that I consolidate these loans, get on a payment plan, and they will use the new monthly payment instead.

I've submitted the cosolidation request but it is still in process. 

Has anyone expeinced a change in credit score due to consolidating student loans? 

[SCF]

You will probably see a small drop in your scores because you are opening a new account.  You'll see that "new account ding" plus a change in your Average Age of Accounts.  It should be fairly minimal as long as the rest of your report is in order though, and will fade with time.