Why my credit score went down when I pay off my education loan?
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Abbey Johnson, Helping with Student Loan DocumentationAnswered on September 25,2023
It’s temporary and it happens with everything because of the whole age of accounts and the way they calculate the scores.
If you are checking a site like credit karma be aware those are Vantage scores that basically no one actually uses. Your FICO scores are the ones that actually matter and only when you are actually trying to use your credit for something.
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Ultimate Guide on SAVE Plan - Payment Calculation, Interest, Forgiveness
Under the Saving on a Valuable Education (SAVE) plan, a single borrower who makes less than $15 an hour will not have to make any payments. Borrowers earning above that amount would save mor..Click here to get a detailed guide
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