 TITLE: Will Paying Off My Student Loans Affect My Credit Score? CONTENT: The Benefits of Paying Off Your Student Loans as Soon as You Can\n----------------------------------------------------------------\nPaying off student loan debt can affect much more than your credit score. By removing the financial and emotional weight of student loan debt, you are free to reimagine your finances. You can:\n*   **Pay off high-interest credit cards.** You'll save money on interest and reduce your monthly debt load even further.\n*   **Save up for a house.** Funnel the money you used for monthly student loan payments into a down payment fund. Or upgrade to a nicer rental.\n*   **Qualify for a car loan or mortgage.** Not only can you save more toward a down payment, but you may also qualify for a larger loan now that you have a more favorable debt-to-income ratio (DTI). Lenders consider DTI to determine whether you can safely take on a new monthly loan payment.\n*   **Create an emergency fund.** If you haven't already, be sure to set aside emergency-only savings so you won't have to borrow money if you find yourself in a difficult position.\n*   **Treat yourself.** Go on vacation. Take yourself out to dinner. Buy yourself a computer. Invest in your own side hustle. As long as you're not putting yourself into a difficult financial position, celebrate your achievement.\nEliminating student debt makes financial goals more attainable. And here's a final note on financial health: With less debt to manage, it may be easier to manage your debt—that means making all of your monthly payments on time, keeping your credit utilization low, monitoring your credit consistently, and avoiding unnecessary applications for new credit. END