I have two student loans. One is $10K+ and I've already started paying it and will continue making the standard minimum payments for the indefinite future (it's consolidated at a really low interest rate). The other is around $2K, fixed at 5% interest, and I am planning to pay the whole thing off. Interest starts accumulating on Jan 1, and the first payments are scheduled for mid-February. This second loan doesn't show at all on my credit reports yet.

Would there be any benefits in terms of my credit score to wait until after January 1 to pay off the loan? Will it report any differently (or at all) on my credit report? If there are no benefits, I will send in my check immediately and save that one month of interest.

Thanks!