Does anyone know how this affects FICO? My credit report shows an installment loan with high balance = 14641 (the original loan amount). It then shows the balance = 15008. It is a unsubsidized student loan that is indeferrment and I plan on paying the interest before it is capitalized when I am done with school. The extra $500 or so is interest. Anyone know how this impacts the credit score?
Student loan debt doesnot effect your score much. It doesnot hurt or help. I have read that it doesnt really help your score until it is almost paid. I have read that Fico doesnot rely on SL to make up our scores. (EXcept Unless we dEfault...lol).......Isn't that a relief.
Oh, ok, I just was hoping that with the current balance higher than the original loan amount that it wouldn't hurt my score...
