cancel
Showing results for 
Search instead for 
Did you mean: 

Paying deferred student loans, will it help credit score

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
New Member

Paying deferred student loans, will it help credit score

Hi everyone,
  I have several student loans that are in deferred status on my credit reports.  If  begin to pay on these every month will this help increase my credit score.
Message 1 of 3
2 REPLIES 2
Frequent Contributor

Re: Paying deferred student loans, will it help credit score

Student Loans now have a board of their own, you might get better response if you either post the same question there or ask a mod to move this one.  Smiley Happy
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Message 2 of 3
Moderator Emeritus

Re: Paying deferred student loans, will it help credit score

It could help your score.
 
Installment util counts for a tiny portion of your score, less than revolving util.
 
When your loans are deferred and your balance = loan amount, then your util is 100%. As you pay your balance down, your util lowers.
 
Do you have other installment/revolving debt that you are currently paying on,including interest, that you could divert your money to? You would still accomplish close to the same thing, maybe better, and be paying down debt that likely has a higher interest, saving you money.
-----------------------------------------------------------------------------------------------------
Free Annual Reports, Freq. Requested Threads, 5 Things We Don't Talk About, Common Abbreviations, Where do I start?, State Resources
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.