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Student Loans Rehab- What kind of jump would I be looking at?

New Contributor

Student Loans Rehab- What kind of jump would I be looking at?

So I have about 60k in SLs I am in the middle of rehabbing. Barring any unforeseen circumstances they will be rehabbed in 7 months. I should have everything off of my CR but a 200 dollar paid off collection. Should I expect a big jump

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Valued Contributor

Re: Student Loans Rehab- What kind of jump would I be looking at?

That's difficult to determine. If your loan is in installments, depending on if you have any other installments on your account and it disappears, you could see a slight drop. A mix of credit is part of your score, and if you don't have any current reporting active installment loans, that would work against you. However, if you do have other active loans, it could because it's decreasing your overall debt.

                                                                  

Total Credit: $192,100Utilization: 1%AAoA: 5yrs, 4mthsInstallments: Car Lease, Marcus LoanBaddies: 0On Chop Block: Penfed, Citi

             
             
                          DSC-24.1K | NFC-25K | ALI-25k | WAL-10k | BoA-13k | BB-12k | NFL-15k | LOW-25k | AMX-19.3k | CHA-10k | PF-6k | C-TY-3.9k | C-DC-3.8k
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Established Member

Re: Student Loans Rehab- What kind of jump would I be looking at?

More likely than not, you will see an increase depending on the rest of your credit file.  One of the benefits of rehab is that the derogatory marks originally reported on the loan by the original lender are removed, however, depending other remarks from others, all the derogatory marks may not be 100% removed.

Student Loan Expert

FICO as of 12/27/15: EX: 648 EQ: 633 TU: 646
FICO as of 12/26/17: EX: 763 EQ: 765 TU: 785

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