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Posted in Student Loans
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Question By
Tincrow

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Should I finish paying off my student loan?
So I'm about $3,000 away from paying off my student loans. I am paid ahead by a few years. I just recently got a secured credit card to build my credit, but other than that it's just the student loans on my record. Should I wait to finish paying off my student loans to keep that credit history going?

Also, if I have late payments with my student loans, once that credit history gets wrapped up, do those negative marks disappear with it too? Or do those remain with my record?

Thanks in advance,

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Top Contributor
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Paying off debt early

is always a good thing.

once The student loans are paid off, that record will show as Closed /Paid on your credit report.  It will remain on your credit report for 7 years as part of your credit history.  Any late payments will have less effect on your score once that account is paid than they would if that account is still open. If those payments are more than 2 years old they probably aren't effecting your score any more anyway.

hope that helps

Good luck  

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