Paid in full Student Loans & Credit Score

[slikk]

Once you have paid off all of your student loans…how long it takes for the fed direct loans and other student lown lenders to report it to credit agencies. How long it takes to show up on your credit report. Does never getting late on your student loan payments and paying student loans in full increase your credit score or no?

 

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[snowpuppy]

My experience is DL does not report to all 3. They report to 1 or 2 and then the other CRA's pick up the info.

 

Usually within 30 days it will be updated. The others may only get updated by disputing the balances.

 

My experience is that you're not going to get much of a jump in scores on SL balances.

[slikk]

Is it prudent to wait around 6 months n then dispute. I really don't want to get into disputing untill I really have to.

 

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[snowpuppy]

Is it prudent to wait around 6 months n then dispute. I really don't want to get into disputing untill I really have to.

 

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I wouldn't bother disputing unless you're purchasing a big ticket item like a home or a vehicle and DTI matters.

 

TU did not update the balance on my underlying loans after consolidation so it looked like I owed 2X more than I actually did. It took 2 months to clear it up.