Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
Perez9334

0 Contributions
0 People Helped
What will help my credit score: paying my student loan debt at once, or continuing making payments?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3672 People Helped

Either will help

it all depends on how much debt you have and how quickly you can pay it off.  Paying off the debt is always the best. Student loans should be paid off as soon as possible, before taking on any new debt such as an auto loan or mortgage. Thats just makes good fiscal sense.  If your debts are very large, then obviously payments is the way to go, Paying more than the monthly minimum will help get the debt down faster. 

I was able to cut 3 years off my payments just by making huge payments once a year when I got my tax return.  What ever approach you take, Consistant payments is key.  Don't fall behind on student loans  The interest just keeps accumilating and student loans never go away.  Not even in bankruptcy. 

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.