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Posted in Student Loans
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Question By
JonDagata

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How can I maximize my positive credit impact while paying off student loans?
Hi,

So I would like to know the best way to increase my credit score while paying off student loans. Here are some details:

I only owe about $2500 left.
My payments are $50 a month.
Each time I make a payment it's usually around $200 dollars.
The status of my loans say:
Amount Paid Ahead:$350.00
Next Required Payment:09/27/2014

So it looks like each time I make a payment, that's more than my required amount, it pushes my next payment date further.

What would be better in my specific situation? If I were to pay my loans down to say $10 and then not pay anything and let the interest build on that $10, would that be better than paying my loans off completely? My theory is that if I pay my loans off, my account will close and be paid off, but if I leave it open with a small amount, it will extend the length of the account, and extend the number of on time payments.

Is this accurate? What is the best course of action?

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Keep up what you are doing, Pay the debt down. The sooner you have it paid off the better.
Don't leave anything on the acco**** to gain history with that type of account.

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Can I ask why this account type is differnet than others?

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