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Student Loan Utilization

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I pulled my EQ report and I found that my student loan is showing utilization at 141%!

Listed like this:

Installment 1 $18,850 N/A $13,353 141% $107 1

The 141% represents the utilization, the $13,353 represents credit limit and the $18K is the balance.

This has been in deferment for a while and I just made my first payment last month. But how can they have a credit limit on this? The difference is just accrued interest, but it's only been in deferment, never late.

Any advice? Do you think this is hurting my score? It would seem too to me.

How can I remedy this?


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Your SL's are installment accounts. You borrowed a specific, limited, amount and will repay the loan(s) in set payments. Utilization on installment loans is a factor in credit scoring, but its's not nearly as big a deal as Utl on revolving credit. Just keep your SL's current and focus on Utl for your CC's and other revolving accounts.

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