Installment Account Question - Student Loans' Affect on FICO Score

[JVnyc]

Hi all, hoping someone can help me out here.

Basic question - does a studen loan balance affect your FICO score?  It seems the utilization % piece of the score only includes revolving account like credit cards.  Does that mean things like student loans are not factored in?  Obviously late payments and stuff like that on the student loan would surely affect your score, but I am curious if the balance plays any part.

Long story short, would paying of the student loan (or paying it way down) have any positive affect on my scores?

Thanks!

[GFer]

I tend to believe they affect scores very minimally. I've paid some balances down with no increase. (Everything else being the same ... no changes). It may not help your score, but it's always nice to get debt paid down!

[JVnyc]

Thanks!

Agreed, always good to get debt paid down.  But maybe better to have that money available as part of a downpayment.  Expecially if paying it down won't help my score.