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How to Maximize Rehabbed Student Loans for Credit Score?


Miranda M
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Hello!

 

I've looked around for an answer to this, but I haven't found much.  I borrowed in the early 90s then ignored the loans.  As my $30,000 in loans doubled with $30,000 in interest, I dug my head deeper. 

 

But around 2005 I started repayment to the DOE.  Not consolidating saved me thousands because I was not paying interest on that interest (thank you annonomous DOE phone person for tell me that!).  I definitely have 24 on-time payments...maybe more. 

 

The loan default reports with the Credit Agencies long ago dropped off.  My main problem with my credit is that I have none... no bad reports and no good ones.

 

Since I was not consolidating, I was lazy about getting them rehabbed.  But I'm sending in the agreement today. 

 

Once processed, what can I do to maximize the effect of this on my credit reports and/or credit score?

 

Does DOE automatically report rehab'd loans?  I have 11.  Is it reported as one debt or 11? What about the long line of on-time payments?  Is there any way to request the DOE to make additional or more detailed submissions?

 

Trying to figure this out before getting a secured credit card -- they're kind of expensive.

 

Thanks for your help!

 

Miranda

 

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