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Posted in Student Loans

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if i have a direct stanford loan of 5500 will that hurt my score

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Asked by adamalexis2 3 months ago Flag this Question

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It should raise your score over time, but you may see an initial drop. I had nothing on my credit report except one collections account, which was an error. After disputing the error and having my student loan open for a year, my credit score raised 99 points. It depends on what accounts you already have open, but I think student loans are great for your credit. Just keep in mind that you can never run away from student loan, so set a limit for yourself before you start taking any out and come up with a reasonable plan to pay them back.

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Dawnstream 3 months ago

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