How will PLUS loan consolidation affect my credit?

A PLUS loan consolidation may raise your credit score. When you consolidate, your current loans are paid in full. Your credit score will go up because you paid off multiple loans. However, if your current lenders are unhappy with your payoff terms, they may mark your score to indicate that the loan was closed in a manner unsatisfactory to the lender. To avoid this, take care when negotiating your payoff quotes. Monitor your credit after your consolidation and assure your lenders report only positive information. If they report negative information, you may dispute any false report as you request the information be removed.


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