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Student Loans


Student Loans

My credit scores are 698,701 &705. I went form the low 500's to these scores in 4 months.I'm new to all of this .I would like to purchase a home soon.I have $30,000 in student loans which is about 15 accounts.Should I consolidate or leave as is and continue making payments.They are all in good standing .The student loans are really my oldest credit history .Although I have about 3 other things on my credit report in good standing .No criticism please just great advice Thanks .

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Frequent Contributor

Re: Student Loans

I don't think there is anything in your post to criticize.  This is a very supportive community so you shouldn't have any fears about posting questions here.


I was in a similar situation. I did consolidate the loans before buying my house.  I did see a small dip in scores. I am not positive about the reason but I suspect it was because the loans were already paid down so there loan ratios were lower but when they consolidated it too the loan ration to 100%  because it is a new loan.  The new loan also brings down your average credit length.  If you arent having difficulty with your payments I would suggest leaving the loans alone until after you close, then consolidate for easier debt management after you close on your house.


Good luck and congrats on your score increase!

Message 2 of 3

Re: Student Loans

Ok thanks so much .I may just leave them alone.

Message 3 of 3