Does paying off student loans raise credit score?

Credit and mortgage advice Forums Consumer Credit Improve Credit Does paying off student loans raise credit score?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 5 years ago.



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    Anonymous

    I owe my school about $ 7,000 in tuition. I have the cash to pay it off. I am also qualified for a federal student loan. Now, I want to raise my credit score so I can borrow in the future.

    I am wondering if I take the loan to pay the tuition, and then quickly pay off the loan, will this maneuver increase my credit score? Is there any downside to this scheme? Thank you.



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