Good TL Student Loans....p
ay them off or are/will they help?
10-14-2012 04:06 PM
I have 2 student loans totalling just under $8,000. I have to start paying on them in January, and they are currently reporting as "pays as agreed". My question is, I have a very unique opportunity to pay these off in February...completely, or atleast very close to completely. Should I? 1 has an interest rate of 3.5% and the other 6.5%. The approximate monthly cost will be $80 which is terribly easy for me to afford. So, I don't believe these count toward my utilization...correct me if I am wrong. Will paying them off do anything other than relieve me of the debt/monthly payment or will keeping them open a few years first prove tasty to my credit score?
Starting Score: 532/564 10/21/12
Current Score: TU: 594 EQ: 628 EX: 617 BoA Credit Pull Denial Letter 2/20/2013
Goal Score: 700
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