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consolidating student loan for credit report?

Recently, I acquired my free credit report from Experian and a few questions arose. I noticed that my student loans are in the form of installment loans (which I knew already) but was not aware that there were 10 of them plus my car that I just bought last May! Am I right in understanding that the more installment loans you have, the more it hurts your credit score? And if so, would it help my score to consolidate those loans?

Thanks for any help!

This entry was posted on Friday, January 29th, 2010 at 7:04 pm and is filed under Student loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “consolidating student loan for credit report?”

  1. Ask your financial advisers and counselors at your college, they should be able to answer all your questions!!!!!!

  2. Even if you consolidate, your old student loans will still be on your credit report, plus the new consolidation loan.

    At this point, consolidation will neither hurt you or help your credit report. Any any activity will add to what is reported.. not that it is BAD activity… unless you aren’t paying on them when you should be. It is not uncommon for adults with long term GOOD credit to have +50 or more entries on their credit report.

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