Saturday, October 31, 2009

Will my credit score increase after my student loans are shown to be consolidated?

I just consolidated $93,000 in student loans. On my credit report it shows like 8 years of individual loans.



Will my credit score increase after my student loans are shown to be consolidated?

the only thing that matters is whether you pay your minimum amount due on the consolidated loan ON TIME. if you paid the non consolidated loans late, that will still stay on your credit report for a while.



it also looks better if you payer higher than minimum payments, but it does not really help you since school loans are generally very low interest loans.



Will my credit score increase after my student loans are shown to be consolidated?

hi



Will my credit score increase after my student loans are shown to be consolidated?

Your total debt has not changed, why should your score change? Make all your payments on time and you should be fine. Credit scores are designed to show a history of responsible use of credit. Why do so many people think there are shortcuts to improve that history?

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