pay off a 7% loan? - Page 3

imsobroke · #21 11-14-2006, 08:02 PM

Refi down to 2 or 3% loan. You can make 5+% on many savings accounts these days.

ChexNFX · #22 11-14-2006, 10:21 PM

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Pay it off.

[/ QUOTE ]Reason?

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Time and effort would be my reason. Risk/reward isn't any good either.

ErnestGoesToWSOP · #23 11-15-2006, 01:40 AM

Student loans hurt your credit score as well. If you are looking to buy a home or get into real estate, having a good credit score can save thousands in interest. Just another point to consider.

Big TR · #24 11-15-2006, 09:24 AM

My wife and I have more in student debt than we earn in a year. Our credit scores are ~780-790. Making timely payments on debt will boost your credit score.

Please cite something stating that student loan debt hurts your credit score.

tribefan9 · #25 11-15-2006, 05:29 PM

I agree with TR on this one. I have always been under the impression that student loans were considered good debt for your credit score as long as you are always timely with your payments. To build your credit score you need to have some history. A person who has never used a credit card and always pays cash for things like cars may be very sound financially, but will not have a high credit score since there is no credit history.