hey there,

i had a student loan that came due a few months ago. i made a couple payments, but was behind a couple times. nothing major, it was never charged off or considered in default.

i came into some money and decided to pay off some debts in full, this one included.

how will this affect my credit score (or will it)? it was for $17,000 + some change.

i decided to just get rid of it instead of continuing to pay monthly..

Obviously, YMMV, but in general, installment loans (like SLs) don't have a huge impact on your scores in comparison to revolving debt (like CCs). So, it usually doesn't make much of a difference if you would have continued to pay vs. paying it off all at once in your scores, but you did save yourself a lot of money in the long run because now you don't have to pay that interest.

Hope this helps!

thanks! yeah, my main reason for paying it off was saving the money + not having the monthly payment to worry about.