Federal Student Loans on Credit Report?
Just wondering if federally managed student loans (those managed by Sallie Mae) show up on one’s credit report. A friend claims his are not on any of his credit reports from the big three. He also says they never have been. He says they have been in repayment for over four years. Any reason why they do not show up?
Folks…this is not a difficult question. Stop making it harder than it has to be. He knows each and every lender and account on his credit report. His student loans are just not there. Thank you to the spammer who solicited for a loan too–I reported that one–or all the good it will do.
Many student loans are actually held by other institutions and are probably shown under a different name then Sally Mae. He may have gotten them through his home state and a local institution.
Tell him to make sure he pays them off. There is no statue of limitations on student loans and those that just walk away from paying will not get away with it.
The statute of limitations on defaulted student loans was eliminated by the Higher Education Act. Section 484A removes all limitations and gives the Department of Education or the guaranty agency (bank or lender) the ability to file suit, enforce judgments, initiate offsets, or other actions, to collect a defaulted student loan regardless of the age of the debt. Statutes of limitation are no longer valid defenses against repayment of a student loan.
