Student loans...

[Legendary70]

Hello all.

I keep hearing from credit fixing companies that student loans can be removed. Is this true?

[CreditCuriosity]

Not true.

[Realist]

Yes and no.

No if they originate as federally-backed FAFSA type loans, backed by a federal entity.  You will never have those wiped away and can even persist through bankruptcy.

Potentially yes, if your "student loans" are originated or moved to a private lender.  Check the language of the lending agreement.  Most loans, like private loans, student loans, etc, are just signature loans not secured by collateral of any kind - titled under whatever bucket they're labeled as a product to the public.  They are not originated nor backed by federal entities, which often means in the case of hardship or default, you may have options at the cost of your credit score.    Adding a co-signer to this, makes it a much more difficult option, as they too will feel the impact of any adverse action.

[myscoresucks2]

The loan itself or lates?

[CreditCrusader]

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@Legendary70 wrote:

Hello all.

I keep hearing from credit fixing companies that student loans can be removed. Is this true?

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AFAIK, the only way student loans can be removed from the credit bureaus is if...

1. They were incorrectly added in the first place

2. They were forgiven per the PSLF program (in which case they simply disappear, and this varies by bureau type)

Apropos the latter, I'm speaking from experience. After my forgiveness was approved and balances cleared, the loans initially remained on my credit reports. This obviously distorted my DTI. When I spoke to the bureaus, they had me email the forgiveness letter. EQ moved the account to closed/PIF status, but TU and EX deleted them altogether, which did not help my AAoA, but the absence of the owed debt helped my FICO scores on the margin.

All that having been said, anyone who broadly says they can just make student loans disappear from credit reports is lying through their teeth.