Student Loans revisited

[liirogue]

Okay, I decided to go for the student loans... They total about $2000, subsidized and unsubsidized... Is this a good way to build some credit history? How long should I keep the money before turning it back in to get a good credit score?
Thanks!

[Andy]

I've no idea whether it'll affect your credit rating (in the UK it does not), but I know of many friends who proudly announced how they intended to atke out cheap government loans and invest them to make a small fortune. Invariably they went the way of all the rest of out money....down the drain, literally.

Incidentally, I have this month paid the last instalment on my student loans. I am officially debt free. I'm nearly 31.

[David Simmons]

Originally posted by liirogue
Okay, I decided to go for the student loans... They total about $2000, subsidized and unsubsidized... Is this a good way to build some credit history? How long should I keep the money before turning it back in to get a good credit score?
Thanks!

Well, if you repay the loans in conformance to the terms of the loan contract you sure won't get a [i]bad[/b] credit record.