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? regarding paying off student loans

Valued Member

? regarding paying off student loans

I currently have 2 student loans originally through USDE but now being serviced by NelNet.  I have an opportunity to pay these off completely.  My question is this..... My student loans are my oldest accounts.  If I pay them off how will this affect things?  (a payment has never been missed....either a payment was made or it was in deferment)


Starting Score: 667EX 599EQ 687TU
Current Score: 667EX 599EQ 687TU
Goal Score: 700


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Super Contributor

Re: ? regarding paying off student loans


shondra0609 wrote:

I currently have 2 student loans originally through USDE but now being serviced by NelNet.  I have an opportunity to pay these off completely.  My question is this..... My student loans are my oldest accounts.  If I pay them off how will this affect things?  (a payment has never been missed....either a payment was made or it was in deferment)


Paying off student loans shouldn't do much of anything to your FICO score.    As closed / PIF accounts they'll stay on your reports for ~10yrs from date closed.

 

Congrats on being able to pay them off ~ that's great !!

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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Valued Member

Re: ? regarding paying off student loans

Thank you.  I'm lucky and happy I have the opportunity.


Starting Score: 667EX 599EQ 687TU
Current Score: 667EX 599EQ 687TU
Goal Score: 700


Take the myFICO Fitness Challenge

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