I was going to pay my loan off in cash as it is about $2,700 but decided I want to save that money for a down payment on a house and going to get a side job to pay off my student loan instead, but wondering a couple of things.
1. My loan is about 10 years+ old so If I start the rehab process it should fall off my report since it is older than 7 years correct?
2. Since these loans don't really fall off until paid off, will removing this from report(has 90 & 120 day lates) and replacing it with a new fresh loan boost my score any or is it no longer factoring in my scoring since it is so old? I notice on Credit Karma it is on my credit report page but isn't listed under my "derogatory marks" so not sure how much it is still dragging down my score.
Thanks in advance!
P.S. I acidentially posted this originally in the student loan forum by mistake, if a mod could delete it for me that would be great. I couldn't delete by myself.
