My credit score just dropped 60 points because of my new loans, is this normal?

Hi guys. I just want to preface this by saying I’m 19 and clueless, so any help at all would be great. Basically, I just started my sophomore year of college (third semester overall) and took out more federal loans and I’m assuming they just hit. However, I don’t understand why it went from a 741 to a 678 when all CreditKarma is telling me is that my older student loans increased ($5763 to $5794) and my new ones just got added ($2752). I have a Discover Student card and have had it since about May 2024, my payment history is 100%, my current usage is 23%, and my average credit age says 9 months. I’ve seen that it might go down because of it being a new loan, but I just don’t understand why it went down 60 whole points. My FICO score is different—sit says 720–and my Equifax on credit karma hasn’t updated. I’ve quite literally never asked Reddit anything before but here I am because I am at such a loss at what’s going on. Is this normal? Can someone explain it to me like I’m 5? I can provide more info if needed, I’m just so confused and halfway to losing my shit.

thank you 🫶