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My loans are in IBR. They are increasing at 40$ per month. I'm now at ~114% of the original principal. Is being over 100% hurting my scores?
@Anonymous wrote:My loans are in IBR. They are increasing at 40$ per month. I'm now at ~114% of the original principal. Is being over 100% hurting my scores?
I can say that being at 100% definitely hurts...not sure if the algorithm punishes further for >100%
I am in the same boat, with negative amortization growing that balance each and every month...I don't know if the fact that it's 114% hurts more than 100%, but I can tell you that every score simulator I've tried tells me I can get an 'easy' 15-20 points by paying about $15k to bring my balance back under 100% (fat chance!)
Good Luck!