So I've had student loans since about 2003. I have 2 from a private lender and 2 from the dept of education. I was making 4 seperate payments and decided to consolidate my 2 federal loans. These were not consolidated into a private lender but instead consolidated with the dept of education. It essentially just combined the loan amounts and now I pay the DoE 1 payment instead of 2.
This unfortunately is now showing as a new account opening in my credit report/fico score. I can only assume this is hurting my fico score. Is this something I should dispute or is this just the way it is when I consolidate? Since both loans are with the same lender I can't see how this could be considered me opening a new account.
I consolidated a whole raft of student loans into a new consolidation loan a few years back. I wasn't checking FICO scores back then (heck, I hadn't even heard of them), but when I finally did check mine, it clearly did not have any long-term negative effect. As long as you pay on time, you'll be fine.
You can't pay your bills with FICO points. Saving money was your goal, and you accomplished it.