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CarrieAnn74 · Apr 2, 2008, 10:25 PM

I received a post secondary student loan in 1995. I didn't have a GED or High School diploma when I received this loan. I went to school and graduated but never received my diploma for the school, obviously because I didn't have a GED or HS diploma. I never repaid the loan. It has now been 13 years. Is there a statue of limitaions on a loan like this? Can I have this loan dismissed because I didn't have a GED? I am getting ready to apply for a FHA loan and wonder if this is something that can interfere with this type of loan?

simoneaugie · Apr 3, 2008, 01:06 AM

That's statute, not statue.

In my state, after 7 years, the credit people have to remove things. Get a copy of your credit report, the debt should not be there. If it's there, write to the three credit reporting agencies and ask them to remove it.

But the time limit may be different where you live.

Gem_22205 · May 17, 2008, 03:14 AM

I maybe wrong. I was under the impression that there is no statute of limitations on student loan repayment obligations.

NASFAA - National Association of Student Financial Aid Administrators

No longer does not ones General Educational Development Test (GED) nor being a high school graduate exclude one from pursuing a degree of higher learning. Monies were paid for you to pursue your dreams. Now, unless I am wrong, it is time to repay what is due.

There is a question posed in the Declarations section that asks: Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation bond, or loan guarantee? If you have a defaulted student loan and do not answer yes, I believe that to be considered mortgage fraud. Also, if you are seeking any type of Federally backed/guaranteed loan/mortgage such as FHA or VA they will do a CAVIRS search and any defaulted loan will showup.

Fr_Chuck · May 17, 2008, 08:43 AM

First you are lucky in the fact that the school has not made criminal charges since you must have falsified something to get the loan, and then when you did not pay it back they could have made possible criminal charges.

But no, you owe the loan and no there is no SOL on student loans

progunr · May 17, 2008, 08:51 AM

Fr_Chuck is correct, there is no statute on student loans.

Nor can they be dismissed in bankruptcy either.

As to the seven year issue, actually, it is calculated as seven years from the last date the account was reported. If the creditor wishes to keep reporting the account, it could remain on your bureau indefinitely.