You appear to have two issues.... one, whether it is correctly reporting as revolving credit, and two, how to improve score on the delinquent account.
As for the type of credit, there are three basis types. One is Rvolving,, where the creditor extends a pre-approved amount of available credit, and you then decide how much to actually use, with you payments then revolving around the balance you accrue. Two is Intallment, where you receive a set amount of $ up fromt as a loan, and have set monthly installments for repayment. The third is Open (not to be confused with an Open account), which represents debt you assume that is due in full at a set date, and not broken into installments.
I assume your tuition was contracted as Open debt, being due when you enrolled, and not as an installment loan?
If so, then Open could reference the type of credit and the status of the account. I dont see how it would be revolving.
You can always dispute if listed as revolving and get it corrected. It might be affecting your scoring if it is being included in your revolving % util.
Did you do the calculation to see if it is in fact being included in your revolving % util? If not, then correction would be kinda academic, and not pressing, particularly if you are considering payment of the debt.
As for scoring, its primary impact is the major derogs reflected by the multiple 90 lates and the charge-off.
You can make them a pay for deletion offer, agreeing to pay if they agree to delete the reported derogs. That would, should the accept, remove the adverse scoring affect in payment history, and also, if it is incorrectly being included in your revolving % util, obviate any need to dispute that inaccuracy, as payment would reduce the balance to $0 and remove it from your % util scoring.
Are you willing to make a PFD offer?
As an aside, many credtiors will,, after taking a CO, refer to a debt collector or sell the debt. That could result in the addition of a collection to your credit report.
Thus, if considering payment, it would be prudent to do so before a collection is added.
