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Will paying early on my student loan help my score?

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Cupcake78
Member

Will paying early on my student loan help my score?

I just took out both a sub and un sub loan of approx $3500.

I won't graduate for another 3 semesters, but was thinking of paying about $50 a month on them to try and pay them off ASAP.

Will this helps fico score at all? I'm hoping to buy a car in the spring, and I'm trying to get my score around 675.

Thanks!
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1 REPLY 1
Luscher
Valued Contributor

Re: Will paying early on my student loan help my score?

Shouldn't really see any improvement in your score. As the loan ages your AAOA will increase and so will your score. But i suggest you put that 50 a month into the loan like you planned on doing. paying off debt fast with little interest is key.
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
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