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Posted in Student Loans
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Question By
jazzpurcat

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Transfered school loans (involuntary) lowered my "credit age"
About 5 years ago, the lender for my school loans transferred all balances to a new lender. I did not have a choice in this- they simply notified me one day that all loans were being taken over by a new lender.
Because of that transfer, it lowered my "credit age" for those accounts because it closed the accounts with the older lender prior to the transfer date and used the transfer date as the open date for the new accounts. It is lowering my credit score because my credit age was lowered since it now looks like my school loans are newer than they actually are .
Has this happened to anyone? Can I fix this?

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The only fix for student loans is getting them paid off, and they will remain collectable until that time. Count on them being transferred to new servicers on occasiion and without notice until such time as they are paid, no matter how long it takes.  And, since they differ from regular loans, they are going to affect your credit score until  they are paid.

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