Will taking out a student loan help build my credit?

This is my third semester in college and I've never taken out a loan. However I have no credit what so ever. I'm 18, and I work. I'm thinking about taking out a $297 loan this summer and just using the loan money to make the payments. If it does build my credit then I'll continue taking out small loans until I graduate to establish credit for when I need to get a house.

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