HUGE mistake - defaulted on student loan. Any Help?

[Anonymous]

Back in 2007 I had a gap in going to school that was more than the 6 months allowed and I didn't realize it, but I should have paid 3 months of payments to cover that gap.  I then went back to school and am still attending school.  Sallie Mae has listed my student loans separately on my CR instead of one lump sum loan, so I have 8 negative hits from this three month period.  It says it will be on my report until 2014.  I'm still in school, so I don't make payments yet.  However, with them being listed as separate accounts I'm wondering if I can pay off some of the smaller loans, like $1k - $2k, and have them changed on my CR as being paid off.  I've been told by friends I should keep the $ in the bank because even if I pay them off it will show on my report until 2014 no matter what.  I'm trying to improve my score to purchase a house down the road, but before 2014. 

Anyone have some helpful advice?  It was an honest mistake & I hate that I have to pay for it for another 3 years or so.

[dharalex]

I had a problem with this. I was in school, got pregnant, went into preterm labor, had 10 weeks of bedrest plus 8 weeks maternity leave for a csection....because of the length of time I was out, my loans went into repayment which I couldn't afford. Didn't help that I ignored the problem for awhile. Long story short, I got on the rehab program for 12 months with no lates, became eligible for reconsolidation, and those old loans are still on my cr in good standing...I graduated in 1997!! You need to find someone who will LISTEN to you. Just keep at it and don't give up!

[Anonymous]

Thanks.  Unfortunately I keep getting the run around and no one will give me a direct answer when I call them.  Does anyone know if I pay off some of the smaller ones if they will update my report to show them as paid & in good standing or if they will still show as a negative report?  If it isn't going to help my credit score and they aren't going to change it until 2014 no matter what then there's no reason for me to pay it before then.  I don't get it...they don't benefit from not helping to update my credit report and they would benefit by me paying them off, but no one wants to help.  So frustrating. 

Any advice??

[laz98]

the late payments will still be there.  your reports WILL show that you paid the loan off, but it will not erase your lates.