Student Loans

Does Paying Student Loans Build Credit – How Paying off Student Loan Debt Affected My 800+ Credit Score: Drop vs Raise


Does Paying Student Loans Build Credit – Highest Rated?

In this video I go over the individual factors that allowed me to reach a 800+ credit score and build my credit. I also review how paying off student loans since the beginning of the year has affected my credit score on Credit Karma month to month.

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  1. classicstorm
    July 23, 2021 at 9:25 am

    Mines is almost paid off but it’s my longest history…I’m trying to buy a house but don know if I should pay it off before buying a home…

  2. Brandi Johnson
    July 23, 2021 at 9:25 am

    Thank you for the information cause I was struggling trying to figure out what to do with my student loans

  3. I’ve Got The Gift Of GOODBYE
    July 23, 2021 at 9:25 am

    I just abolished my $98,000 student loan debt through total nelnet total disability. I’m currently a 734 credit score. I busted my a** to raise it to that high. Now I am terrified to see my new score once they close my account. I have 7 credit cards though that I use to minimum usage to keep my score fluctuations and utilization current. Hopefully that will help my score increase. Yikes 😳!

  4. Earth ANGEL
    July 23, 2021 at 9:25 am

    Thank you for this video I was crying 😢 last month

  5. Earth ANGEL
    July 23, 2021 at 9:25 am

    I thought it was ONLY ME going through this!

  6. Dan Rockwell
    July 23, 2021 at 9:25 am

    Great editing, keep up the good work. It's awesome you worked hard to pay off your loans, it shows a lot of discipline and sacrifice! I hope they give you (and others) money if they decide to pay off others student loans! Why punish the people that made the sacrifice.

  7. Brad
    July 23, 2021 at 9:25 am

    Mine dipped 20 points because of average age of credit history went from 4 years to 1 year and 4 months. Whatever. Worth paying off that 10,000 and my score went back to 730 a couple months later anyway.

  8. AHistoryOfBadMen
    July 23, 2021 at 9:25 am

    Gotta love how they incentivize staying in debt

  9. M0 Here
    July 23, 2021 at 9:25 am

    That’s so odd, I know this is typical…but as I have been paying off my loans ($16k in the past year)…my credit score has actually been going up.

  10. Alvin Dowd
    July 23, 2021 at 9:25 am

    I needed this!

  11. Sequendalynn Turner
    July 23, 2021 at 9:25 am

    It’s always good to keep a low balance until the term is completed

  12. Grand Master Mawile
    July 23, 2021 at 9:25 am

    What if I get a car loan for a couple thousand and pay it over a 70 month period. Sure you pay a couple hundred in interest but then you artificially increase your score. And when you pay it off, you prove that you can handle a loan for future which will help towards future loans.

  13. TheRealYaniAryania
    July 23, 2021 at 9:25 am

    Are your student loans bundles together as a total ($30k ) and than broken down into groups like A,B,C, etc? And when you say you paid off a student loan that mean a you mean you paid off a single group like paid off group C than you paid off group B ? Bc I’m currently doing that and I need help I hope you can understand what I’m asking

  14. TheGarvino
    July 23, 2021 at 9:25 am

    Hi did all your scores change equally or was one reduced more than the other after paying the student loan off?

  15. Kyle Conway
    July 23, 2021 at 9:25 am

    This woman’s voice is awful

  16. H Y P H Y
    July 23, 2021 at 9:25 am

    If I were in debt, I wouldn't care if my score dropped after paying off debt. I'd rather hsve a score decrease than have debt. Besides, once you become debt free, you won't be applying for more debt unless it's for a home or business related.

  17. lazyjoys12
    July 23, 2021 at 9:25 am

    I don’t trust credit karma. There numbers is off use experian it’s so accurate.

  18. JSkillz2315
    July 23, 2021 at 9:25 am

    I just paid mine off the other day. Will have to wait till the next report to find out.

  19. TH
    July 23, 2021 at 9:25 am

    Thank you so much for sharing this. This is insane!! My credit score dropped by 100 points (700s to 600s) after I paid off one of my loans. I was so confused when I checked my credit score, but apparently this is very common. It’s so backwards.

  20. Quinn Quy Nguyen
    July 23, 2021 at 9:25 am

    Thank you for your video! It was relieving to hear that the unfair drops to your score due to paying off student debt like a good person is supposed to were only temporary.

    It's Oct 2019. 1 month ago (Sept) I took a $6k student loan. To date, I've paid half back. Today my credit score came out, I dropped like 50 points! My future felt ruined!! And I barely started adulting!

    But hopefully this drop is only temporary for me as it was for you! I basically have two more semesters to go, so that's 2 more times that a $6K will be applied for my tuition. Does that mean my credit score will drop further and further? That's a gigantic total score drop!

    I didn't even need to begin repaying my student loan until I graduate in June 2020. I thought I was doing exceptionally well, repaying so early! Also, I keep up-to-date with my general credit card payments anyway.

  21. Kat
    July 23, 2021 at 9:25 am

    Mine actually dropped 50 points over 2.5 years paying off 75% of my debt. I think it’s because I stopped using credit cards and have no other debts