Defaulted student loan reporting Information for members (Information from AES/PHEAA)

[Student_Loans_Kill]

Defaulted studentloans are Federal Debt, and the Federal guidelines state, they will remain on credit report 6 years 9 months from the date of Default. This is a Federal debt and under Federal law, therefore the 5 year NY reporting law does not apply.

So 6.9 years from the original Default they come off.  Now hardship, retroactive forbarence and GW letters may take this off sooner

[Anonymous]

thats fine and dandy, but mine are paid and or rehabbed.  3 paid by income tax offset and they are reporting open 120 days late.  those where paid off last year and the ones that were rehabbed I just got an alert that they were changed to paid as agreed with all the lates still there.

[Student_Loans_Kill]

Not sure what that has to do with 6 years 9 months from original Default

[atarvuzdar]

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@Student_Loans_Kill wrote:

Defaulted studentloans are Federal Debt, and the Federal guidelines state, they will remain on credit report 6 years 9 months from the date of Default. This is a Federal debt and under Federal law, therefore the 5 year NY reporting law does not apply.

So 6.9 years from the original Default they come off.  Now hardship, retroactive forbarence and GW letters may take this off sooner

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Assuming what AES told you is true, I would say the info should be taken with a big helping of YMMV here. I'm in NY, one of my TL's on EQ was a Dept of Ed loan reporting as sent to Collections. DOLA was 2/2007, balance showed $0 and it just dropped off my report in 2/2012--exactly 5 years from DOLA. This follows the NY reports paid CO/CA for 5 year logic. I don't know enough to know if the CRA should have removed it, but I'm not going to call and complain.

[Student_Loans_Kill]

Its a Federal Loan, doesnt follow the state Guildines of 5 years, I live in NY as Well. You have to dispute DoFD with the CRA's I am learning.