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Posted in Student Loans
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Question By
leonard787

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How can I limit the impact of open student loans on my credit score?
I am a current college student, and I have a private student loan that payments are deferred until graduation that is reported as a revolving line of credit on my reports. The loan service reports it as a student loan line of credit but none of the agencies have a category that they think that fits into, so it just gets marked as an other revolving line of credit and not a student loan. Every semester I take out the semester's tuition and it increases the balance and drops my credit score. Is there any way to decrease the impact of this loan on my credit score?

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Limit the Impact by not taking out any Student Loans,   
if you have to take them out,   Pay them off ASAP and Never Ever Be late on payment.

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Sorry, but that is  how student loans work.  And they will adversely affect your credit score until the date they are paid off. 

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