Gov't Student Loan Impact on Credit Score

[Anonymous]

I was wondering how a Gov't issued student loan impacts credit. Will your score drop with the loan vs having the same balance on a credit card?

[RobertEG]

No, not even a close comparison of FICO impact..

FICO scores util of revolving (CC) debt much, much higher than util of installment loans.

Yes, installment loans impact, but at a very low level.

If you had the same debt on a credit card, it would probably destroy your credit score.

Nothing to worry about.

[Anonymous]

So say I take all my credit card debt and pay it off with some small student loans. Would this increase my FICO score?

[Anonymous]

I took out a loan during my Freshman year of college and not much later, received my first credit report. The credit report given to me indicated that my student loans did indeed impact my credit score especially since I still owe the full amount. The credit report I got, was given to me by Bank of America. I wouldn't recommend paying the full amount with a credit card or several credit cards but I think paying off a portion does help. 

[Anonymous]

This is a Government Student Loan and I actually used the loan to pay off $5000 in credit card debt. From what I hear that should help my credit overall because revolving credit impacts your score more than installment loans.