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Stock impact report

Will Paying Off Student Loans With an Inheritance Hurt Your Credit Score? [Yahoo! Finance]

TransUnion (TRU) 
Last transunion earnings: 4/28 06:50 am Check Earnings Report
US:NYSE Investor Relations: investors.transunion.com
Company Research Source: Yahoo! Finance
For most people, saving a fortune in interest and improving your debt-to-income ratio is far more important than worrying about a few points of your credit score. If you're like this letter writer , and you've come into a large sum of money, you might be thinking about paying off your debts, like your student loans. Even though you'd be freed from monthly payments and save potentially thousands of dollars in future interest, you might worry that it could backfire. You may have heard a story about someone's credit score dipping after they paid off their loan—and maybe it's making you think twice about paying off your own loans early. The truth is, there's no need to worry. According to TransUnion, one of the three credit reporting bureaus , your credit score won't change that much, and if it does change, the change will be temporary. Ultimately, the change will pale in comparison to the long-term financial benefits of carrying less debt So why would your credit score change, e Show less Read more
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