Does the Amount Owed to Student Loans Matter?

[Anonymous]

I know that installment loans are part of the FICO scoring equation, but does the amount you owe matter?  Or is it only if you are late/don't pay?

[Anonymous]

From what I've read, its all about the pay history, not the balances

[pizzadude]

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@Anonymous wrote:

I know that installment loans are part of the FICO scoring equation, but does the amount you owe matter?  Or is it only if you are late/don't pay?

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Installment loan utilization is a very minor part of FICO scoring compared to revolving utilization, so you really don't get a large FICO ding even if you have a large amount of debt.    This applies to any installment loan....mortgage, auto, student loans...etc..