How long will it take after I pay off my small student loan for my credit to be restored?
I took out an $850 student loan last semester. I had to drop out of school due to personal reasons and that loan was due in May. I didn’t have the funds necessary then, but I plan to pay it in full when I receive my tax rebate. After I pay it off, will my credit be restored? How long will that take? Thank you for your help!
Usually people start paying on their student loans a year or two after they complete college. Creditors allow students to get established at their jobs before they require paymetns. Your credit is most likely still ok. You can always get a copy of your credit report to find out what is on it and to check your score.
