Ok I am about to get a $10,000 loan to pay for some classes. I though I might as well as for $14,000 and pay off a credit card. Now this would be my first loan of any kind so I was wondering how much does a loan effect your credit? Example I owe Amex $4,000 but I pay it off with what I get from the loan. So now I dont owe amex anything bu tI owe a $14,000 loan that needs to be paid off after I finish school. How bad will this affect my credit scores? I cant imagine alot especially when $14,000 is nothing compared to what some doctors or lawyers probably owe.

My student loans has helped my credit I have borrowed about 28k in two years... hope this helps

Will it help my score as much if I did this with a co-signer?