Can you please look at this.

[cjane1]

I have a student loan that was getting garnished from my payroll but am no longer working.  Anyway, yesterday I pulled my credit report from Experian and on my student loan even though it is not paid off it is showing that it will stay on record until May 2017. So does that mean that after that date it will fall off and no longer affect my credit?

Account name

U.S. DEPARTMENT OF EDUCATION

Account number

769....

Recent balance

$1,322 as of 07/02/2016

Date opened

02/2004

Status

Collection account. $1,322 past due as of Jul 2016.

Type

Education

Terms

36 Months

On record until

May 2017

Credit limit or original amount

$2,025

High balance

$0

Monthly payment

$0

Recent payment amount

$0

Date of status

07/2012

First reported

06/2012

Responsibility

Individual

Comment

Student loan permanently assigned to government.

[cjane1]

BUMP

[Aduke1122]

It's likely it could very well fall off in 2017 but I wouldn't be surprised if they then added a new TL with the collections acct on it . Have you thought about the Rehab program? It's really a wonderful 2nd chance to get the loan out of default and help your credit by removing all notes of default once the Rehab is complete .