02-14-2013 05:09 AM
I have a student loan that I have been paying off for appr 12 year now with a current balance of appr. $15k.
Would it be better for my credit score to pay it off in full or continue to pay my regular monthly installments?
02-14-2013 05:16 AM
You won't receive a FICO score boost from paying down an installment loan. However there are other non~score related reasons to do so, such as reducing interest payments or improving your DTI%