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Posted in Student Loans
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ShelbyRaft

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If I paid my student loan back weekly instead of monthly would it negatively affect my credit score?
I just want to know if instead of paying monthly on my student loans, if I pay it weekly would it negatively affect my credit score?

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In most cases, payments to lenders have to be made in full, not partial payments that end up adding up to the full amount owed, but you can check with your lender and ask.

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Talk to your lender. Some lenders will acually give credit (IF SET UP) and it will reduse the amount of interest you pay over the life time of the loan.  Many mortgage lenders no offer bi weekly payments to do this.  Even if they do not give you credit, talk to them and see how partial are applied, many just put the money in trust until you have enough in there for a full payment, some will not take the payment at all. So talk to them, get it in writing.

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