It would only drop your score if you have no other installment debt. (Car loans, personal loans) Some people get a SSL in order to show installment debt, however I'm not in *full* agreement with that. Your scores will continue to rise and the normal demands of life will catch up naturally. Don't sweat it. From what I've seen there's approximately 10-20 points lost, but ymmv of course.
@Anonymous wrote:I have $50 left of my student loan balance. Ive been trying to pay as little as possible to keep the SL reporting a good history on my CR. I cannot extend my payments or pay any less than the leftover amount. I know this will lower my CS once they close this acct. How can I recoup?
Do you have any other open loans? If so what are the balances and original amounts of those loans and of this student loan?
@Anonymous wrote:yes i have 1 other SL >50k that is 0% paid off
Paying off the loan will not hurt your scores.
It might help your scores by reducing the number of accounts with a balance.