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Posted in Student Loans
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Question By
Jakobi007

1 Contribution
3 People Helped
Loan balance is higher than original loan amount?
I have some student loans where the interest over years has the balance greater than the original loan amount, does this effect my credit score?

Example

Original Student Loan: $2500
Current Student Loan Balance: $3200

Anything bad about that? Thanks.

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7 Contributions
61 People Helped
Most Helpful Response

negative amoritization

Helpful to 1 out of 1 people

yes.

my loans are the same, borrowed 60,000. now i owe 90,000. i didnt think it was big deal have been making payments on time for two years.

couldnt figure out why my score wasnt moving as much as it had when i started cleaning up my act. , then i i tried to reconsolidate. i mean thats my only debt whats up?!

i got back letters saying credit utilization is too high. i was confused because my credit cards are in great standing. turns out they calculate revolving loan debt the same. so unfourtunately on your report you are at 128% credit utilization.

im sorry.

no one will refinance or consolidate. id say pay it down asap. thats what im doing.

if any one else finds a better way please let me know

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