I there a statute of limitations on student loans.?
Hello, my son has some questions about his student loans, but he is too afraid (even under the anonymity of yahoo answers) to ask the public for help. He, unbeknownst to me, has not been paying his loans and he owes his college quite a bit of money. However, he claims this debt to be nearly seven year old at this point so he doesn’t know if he should restart the cycle. Any suggestions before I ring his neck?
no, sorry, there isn’t. Nor can he discharge them in bankruptcy. He has to pay.
He needs to contact them, get an accurate balance (interest will have piled up over the years) and make a manageable payment plan.
They will chase him his whole life until he pays.
