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student loan question

New Visitor

student loan question

I am trying to improve my FICO score.  My credit cards will be paid off
within the year.  So i figured this would help raise my score.  But
my student loans are crazy.  Original loan amount was about $34,000.
Now with my 7.0% interest rate on $34,000   $16,000 in capitalized interest...
$50,000 is a hefty balance to pay off.   Amounts owed is about 30% of my score,
so will I never be able to improve my score with these student loans?
Message 1 of 2
Moderator Emeritus

Re: student loan question

Paying down student loans (or any installment debt) means little when compared to revolving.
Message 2 of 2