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New Contributor
Posts: 50
Registered: ‎03-07-2008
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When do student loans fall off?

On my TU report, one Sallie Mae account reads:

 

Date of Last Activity - 09/2003

Date Closed - 09-2004

 

So would this fall off my report on 9/2010, or 9/2011?  Or not at all since it's a student loan?

Began: TU - 532; EQ - 556; EX - 555 - 3/7/2008
Updated: TU - 539 - 3/15/08; EQ 568; EX - 574 - 3/21/2008

4/26/09 - TU - 654, EX ???, EQ - haven't ran yet - it has errors.
Frequent Contributor
Posts: 465
Registered: ‎06-13-2008
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Re: When do student loans fall off?

Positive information or non defaulted trade lines stay 10 years, defaulted 7 years.
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Ex-Student Loan Collector
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Posts: 50
Registered: ‎03-07-2008
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Re: When do student loans fall off?

Yes, I was thinking 7 years too - but the question would be which date they use?
After I made the original post, I was looking at my CR a good long while.  There are several reporting the exact same way, so if they fall off in 2010, my score should go way up by that time - otherwise, it would wait until 2011?  I'm just trying to determine which year they'll fall off.

 

Began: TU - 532; EQ - 556; EX - 555 - 3/7/2008
Updated: TU - 539 - 3/15/08; EQ 568; EX - 574 - 3/21/2008

4/26/09 - TU - 654, EX ???, EQ - haven't ran yet - it has errors.
New Visitor
Posts: 3
Registered: ‎05-07-2009
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Re: When do student loans fall off?

[ Edited ]

I have 10 loans on my credit and then of course I consolidated the loans.  So I show the ones deferred and the others showing as transferred.  Is this hurting my credit?  Can I get the transferred ones removed since technically they are duplicate accounts?

Help please trying to get a loan.

Message Edited by tongrl on 05-07-2009 11:04 AM
Senior Contributor
Posts: 3,494
Registered: ‎05-25-2008

Re: When do student loans fall off?


keeanah wrote:

Yes, I was thinking 7 years too - but the question would be which date they use?
After I made the original post, I was looking at my CR a good long while.  There are several reporting the exact same way, so if they fall off in 2010, my score should go way up by that time - otherwise, it would wait until 2011?  I'm just trying to determine which year they'll fall off.

 


Bear in mind that if they're Federal loans (not sure about private) and defaulted, when they're claimed by the DoE, that'll put another TL on your CRs. That new ugly will stay on for another 7 years.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Established Contributor
Posts: 670
Registered: ‎07-12-2008
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Re: When do student loans fall off?


tongrl wrote:

I have 10 loans on my credit and then of course I consolidated the loans.  So I show the ones deferred and the others showing as transferred.  Is this hurting my credit?  Can I get the transferred ones removed since technically they are duplicate accounts?

Help please trying to get a loan.

Message Edited by tongrl on 05-07-2009 11:04 AM

These are reporting correctly since presumably a new account was opened when you consolidated.  Additionally they're probably helping your score since they bump up your average age of accounts.  If there's a history of late payments or something you can try writing goodwill letters to see if they will forgive the lates.

Senior Contributor
Posts: 3,240
Registered: ‎04-03-2008
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Re: When do student loans fall off?


keeanah wrote:

Yes, I was thinking 7 years too - but the question would be which date they use?
After I made the original post, I was looking at my CR a good long while.  There are several reporting the exact same way, so if they fall off in 2010, my score should go way up by that time - otherwise, it would wait until 2011?  I'm just trying to determine which year they'll fall off.

 


I believe each of my student loans fell off my credit reports 10 years after the date on which I paid that loan off.

 

TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
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