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Posted in Student Loans
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jakeefromstatefarm

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School loan increased score, but will my score remain stagnant now?
My school loan of around $40k hit my credit report and my score went up about 50 points. It was very low before. I have no other credit cards and my score has some pretty bad hits on it from the past, but they are reaching the 7 year mark. My question is now that the school loan improved my credit score, will it remain stagnant if I pay it on time from here on, or will it improve just by being in good standing?

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Keep paying it on time and let the derogatories fall off and you should see a nice boost. If you have little to no recent inquiries it might be a good idea to get a credit card or 2, utilize them lightly and pay them off each month. It will increase your credit mix which will almost certainly help your score as well. Good luck!

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