Will taking out a student loan hurt my credit score?

[Anonymous]

I am thinking about taking out a $2,750 Direct subsidized loan this semester. The only credit I currently have is a Discover card that I was approved for two months ago with a limit of $1,250. Will taking out this loan hurt my credit? If so, by how much?

[stellar]

Actually it will help your credit.  Especially if you have no other installment loans on your report.  Once the loan is paid down to 40-50%, you will gain more points.

[Anonymous]

So it will raise my credit score immediately when I take it out or only after I start to pay it off?

[Luscher]

It will not increase immediately. But over time, probably after about 6 months it will begin to increase. I have multiple student loans W/balances and they help a lot!