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Posted in Student Loans
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Question By
hcivil

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Finally approved for tuition reimbursement, should I pay off an old school loan? Want to boost score
I have an old student loan from 2005 that is currently in forbearance since I am still in school... I was approved for tuition reimbursement through my employer wondering if I should pay that old loan and will boost my current score. I am currently @ 680 and am itching to get into the 700's.

Loan Amount 1,105.41

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Top Contributor
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I am not sure about student loans - but it is clear that paying off car loans, which are also installment loans actually lowers your credit score. 

Treating it like an auto loan, I would suggest that you begin to make payments even though you are in forbearance, and not pay it off.   The advantage of doing it that way is that you will see if it helps and can change course if it doesn't!

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