Flipper762 Posted April 4, 2005 Report Share Posted April 4, 2005 Do consolidating your student loans help to boost your score? Link to comment Share on other sites More sharing options...
jq26 Posted April 4, 2005 Report Share Posted April 4, 2005 IMO, no. For most people, multiple long term "paying as agreed" tradelines all get closed and become one brand new "paying as agreed" tradeline. Teh net effect is that you are left with only one open installment account with no history and a higher ratio to original balance. You have to weigh the cost benefit. If for instance, you have five student loans each with 15K balances being paid at 7%, and you can consolidate into one 75K loan at 2%, then I would think it would be a no-brainer due to the huge interest reduction. Link to comment Share on other sites More sharing options...
Tourniquet416 Posted April 5, 2005 Report Share Posted April 5, 2005 but what if it was 9 student loans with bad tradelines, and you consolidated it? that has to help out the score, and i wonder if i'll have a positive tradeline. Link to comment Share on other sites More sharing options...
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