Effect of payments while in grace period

[Anonymous]

Does anyone know how payments made while in a grace period impact a credit score? I'd think making payments when not required is a good thing since it shows you're paying before it's due, but it doesn't look like the credit reporting guidelines require a 24-month payment profile if the loan is in a deferred/grace status.

Does making payments help the credit score in this case? Thanks for any insight you can provide!

[Anonymous]

In my experience, there was simply no history listed for the period that my loans were in in-school deferment, despite making some interest payment during that time.  Maybe contact your lender and ask if they will report those payments?

[Anonymous]

Thanks Jesslyn! The lender said they report the current balance, the last payment date, and last payment amount. But the month by month profile doesn't track anything. So a payment does reflect, but not sure if it factors into a score.

[Anonymous]

I would think this will help your FICO scores since the student loans would no longer report at 100% util. 

Thoughts anyone?

[Anonymous]

I agree-

Make sure your revolving accounts are paid off first before paying low interest, tax deductable SL's

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soccermomof4 wrote:

I would think this will help your FICO scores since the student loans would no longer report at 100% util. 

Thoughts anyone?

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