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Posted in Student Loans
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Saraem421

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Payed off my student loans in a lump sum and my credit DROPPED 130 points wth???
I payed off 30,000 in student loans as I just happened to get a tremendously kind no interest loan from my dad for them. Now my credit just tanked. I don't understand why at all?

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Credit Scores are based on Open Lines of Credit.  When you Paid off your Student Loan you ended up closing that Line of Credit.

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