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Posted in Student Loans
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Question By
sleblanc1988

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My credit score dropped because my student loan was transferred. Is there any way I can fix this?
My federal student loans got transferred to another student loan servicer (PHEAA), and it caused my credit score to drop 27 points. It's not because I defaulted or anything. They just needed the "extra help." Is there any way I can bump up those 27 points because it wasn't my fault? Can I contact someone?

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Sorry. It's student loan shuffle.

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That sort of shuffle is one of the problems with student loans and those loans are going to have an effect on your credit until they are paid off.  Been there, played that game.

Unfortunately, there is no way I know of to eliminate that drop in your score.  You might find a way utilizing the Score Simulator, which is a harmless way of making credit decisions and seeing how they may effect your credit score without the pain of actually doing it and finding out the hard way it wasn't a good idea.  Just try getting the payments in on time because the loans are going to be with you until they are either paid off or you are no longer here.  Student loans are the only transaction that has no statute of limitations nor can they generally be discharged in bankruptcy.  There is plenty that can be said about that situation but not in language that decent people use.

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