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Posted in Student Loans
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doggymom92

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Consolidating student loan accounts to one-effect on score
Once I graduate, my husband and I are going to consolidate our student loans together to have one monthly payment. I am worried that closing all of the separate loan accounts and opening one new one will hurt my credit pretty bad. Some of the student loans are the oldest loans I have. This will greatly mess up my age of credit. Will it effect it as badly as I am thinking it might?

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Age on loans doesn't have the same

effect as credit cards.  

Paying off older loans will help your score more than losing the age on the accounts.

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