I've got student loans, for which I'm enrolled in the Pay As You Earn (PAYE) repayment plan. This means I'll only ever pay a maximum of 10% of my income towards these loans.
Given a relatively low income, this means that the interest accrued monthly is currently higher than what I'm repaying, so the balance goes up. However, all my payments are on time.
My question is: how much of an effect does my increasing student loan balance have on my credit score?