this post was submitted on 20 Aug 2023
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Loans are different from lines of credit... loans don't have an "available credit" associated with them. The reason your score might go down when you pay off student loan is because you're reducing the number of open accounts you have, and also possibly reducing the diversity of accounts (lines of credit vs. installment loans).
Disclaimer: I'm not saying this is a good system, just explaining how it works.