Credit Advice » Life Stages » Students » Consolidated Student Loans on Your Credit Report

Consolidated Student Loans on Your Credit Report

Dear Experian,

I recently consolidated my student loans with one vendor, but all my other accounts still appear on my credit report. It says it has been transferred, but I would like to know if I can remove those accounts from my report since they are counting as open installment loans.

-SCB

Dear SCB,

As long as they are correctly reported as closed, they are a complete and accurate part of your history.

Your credit report shows a history of all your accounts, even after they are paid off or closed. When you consolidate your student loans into one new account, both the new, open account and the prior accounts will appear. Closed accounts are automatically deleted after 10 years.

A transferred account is a closed account, and no longer counts as an open installment loan. Once the accounts are transferred, they are considered closed with a zero balance; however, they remain in your credit report to show a complete history of the debt.

Thanks for asking.
The “Ask Experian” team

Review Your Free Experian Credit Report Today

Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

Get Started for Free

College Budgeting: What to Know When You Move Out of Your Parents House

Heading off to campus? Prepare now to keep a realistic budget intact that won't have you frustrated before finals.

Ask Experian for Advice

Your privacy and the information collected here.

Latest Tweets