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Hardheadwayz02

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If I pay off a student loan will my credit score go back up?

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student loans

Helpful to 2 out of 2 people

my credit is awful from younger years, but i have 25k in student loans that defaulted and im in a "rehab" program im only paying 20$ a month for 8 more months, and after 6 months my loans go back to good standings, and after the 9 months even though ill still owe 24k they wipe all the collections fees which is like 6k for me, and my credit will show good standings like i never defaulted, I just made my first 20$ payment and my credit went up 5 points, so i think that it does. I got really lucky with my collections people though, there really nice and helpful, and they send everything in writing, my student loans are the biggest problems with my credit, so seeing it go up as i pay makes me feel like im accomplishing something, i did the tv thing to and it raises my credit every month, i opened an account with conns and they are reporting that im paying 4k, but im only paying 2100 and i can pay it off but i have to wait at least 4 months, because once you get in a routine and pay on time each month my credit goes up for having a good standing account. 

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