cancel
Showing results for 
Search instead for 
Did you mean: 

Student Loans

tag
Anonymous
Not applicable

Student Loans

Hi there,

 

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?

Message 1 of 3
2 REPLIES 2
pizzadude
Credit Mentor

Re: Student Loans

 

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%

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 3
Anonymous
Not applicable

Re: Student Loans

I understand, thanks.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.