When my student loans got transferred over to Nelnet, it split it all up to 17 different smaller loans, rather than one consolidated loan. Is there anything bad credit reporting wise that could come from this? And would it be worth paying off some of the lower amount loans first to get rid of them?
@OniStringer wrote:When my student loans got transferred over to Nelnet, it split it all up to 17 different smaller loans, rather than one consolidated loan. Is there anything bad credit reporting wise that could come from this? And would it be worth paying off some of the lower amount loans first to get rid of them?
nothing you can do about the loans splitting up into 17 different tradelines
you can pay down the smaller ones if you wanted to limit the number of accounts with balances reporting, but if you weren't going to do that, I would appreciate the aging benefits of all of those tradelines more than the 'accounts with balances' they add to the credit report
how good or bad it is depends on how old the loans are, if they are old you've hit the jackpot, 17 aged tradelines of X years+? if you one tradeline from your previous servicer was 10+ years old, these 17 branching tradelines will be as loan as the loans themselves are when you took them out, they won't be new tradelines
@GZG wrote:
@OniStringer wrote:When my student loans got transferred over to Nelnet, it split it all up to 17 different smaller loans, rather than one consolidated loan. Is there anything bad credit reporting wise that could come from this? And would it be worth paying off some of the lower amount loans first to get rid of them?
nothing you can do about the loans splitting up into 17 different tradelines
you can pay down the smaller ones if you wanted to limit the number of accounts with balances reporting, but if you weren't going to do that, I would appreciate the aging benefits of all of those tradelines more than the 'accounts with balances' they add to the credit report
how good or bad it is depends on how old the loans are, if they are old you've hit the jackpot, 17 aged tradelines of X years+? if you one tradeline from your previous servicer was 10+ years old, these 17 branching tradelines will be as loan as the loans themselves are when you took them out, they won't be new tradelines
Yeah, the most recent of the 17 is Aug 09, 2022 as date opened. They trickly down in roughly 7 month increments every 2 or so, all the way down to a few being June 2017. So between the 17 accounts, youre taking anywhere from 2-7 years. The original loan was opened April 2016, which is showing "transferred" of course. So I suppose yeah in 5-7 years, having these report and aging my report will probably be a huge addition. I forgot to even look at it like that. My AAoA at the moment is about 4y 9m, oldest account being 11y 5m