Re: STUDENT LOANS
01-04-2013 08:06 AM
The positive tradelines for each loan disbursement date does not hurt your credit, quite the opposite actually. Just pay your minimums each month and you will be blessed with having many great positive accounts on your credit reports. Yes, the simulator will advise you that being too far in debt is bad, but in the long run the all the positive histories will only help you, will remain for 10 years after they have been paid off, will help boost your AAoA, etc. Having a large number of SL accounts will also help put you into a higher FICO bucket.
This is good to hear. I had always thought as much but I am still in grad school and was worried that upon graduation when my loans come out of in-school deferment it would somehow change my credit score...
For the time being, I am listed as having 61 tradelines never late, pays as agreed. (The loans come in 4 or 5 chunks every quarter). So this seemed to actually help me when I went for an auto-loan.
Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740