Fianlly! What a feeling. Made my final payment to Nelnet two weeks ago! Will these 3 tradelines have any impact on my score?
Congratulations on paying off your student loans! 🍸
For your question this depends on whether you have any other installment loans such as a car or house. If so then your scores should stay more or less the same. FICO scoring models say a credit mix of credit cards and loans be reporting to maximize your scores
If your student loans were the only installment loans reporting you may see a score drop but I think this is an instance where money numbers matter more than scoring numbers. Be proud of finally paying off a long-standing debt and make plans to do something with the extra money. Things like increasing your savings, paying off other debt like credit cards if you have any, etc
Huge congrats! Do you have any other installment loans? (mortgage, auto?) - the presence of open installments is good for your score.
But I think finances is more important than FICOs, and it's AWESOME that you've got this paid off!
Congratulations! I'm so happy for you! I don't know the answer to your question but here's a guess...if you have no other installment accounts that are open, you may experience a dip.