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student loan paid off because of disability

Frequent Contributor

student loan paid off because of disability

I have a problem my student loans were write off for a disabilty. But now navient and my other student loan provider is reporting current but in the remarks they state closed due to transfer. and the dept of education is reporting closed in the remark section. My credit score has dropped 16 points. Do those REMARKS on the credit report affect my scores and what can I do about this problem. 16 points is alot!! Any Advice? Thanks

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Established Contributor

Re: student loan paid off because of disability

The drop in score is most likely due to the closing of installment loans. Strange as it sounds but when you pay off a loan your score actually goes down. I am guessing that the student loans were the only loans you have so you also lost some points for credit mix. I don't think the remarks have any effect on scores
Scores as of5/20/16: EQ 800;TU 769; EX 793
Last CC app: 5/16.
Mortgage Refi 3/16
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Valued Contributor

Re: student loan paid off because of disability

16 points is very minimal IMHO. My score goes up or down 30 points every month.
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