Is there a statue of limitation on student loan debt?

[thatguydownsouth]

Originally Posted by mattywo85

Actually it does matter. It's like saying someone who was caught with a kilo of cocaine 25 years ago would be charged as the law stands today.

That's a felony/criminal law, that's completely different than contract law. The other user is correct as far as contract law, whatever the laws were on the books at the time the contract was entered into are what is upheld. Contract law is a strange, dark recess of law that makes even law students shiver, almost as badly as property law.


That being said the OP needs to clarify if he/she has a private loan or govt loan. Govt loans have no statute of limitations, private loans do.

[NJBest]

Originally Posted by Ruth4Truth

Do you think she still has that paperwork after 50 years? And probably multiple relocations? Don't you think that if she had access to that paperwork, she would have looked it up by now?

I'm not going to assume that she's been irresponsible; if that's what you're asking.

[ddpratt57]

I am on default of a loan balance of 2770 .00 from 1980 unsecured private loan to this day they have me blocked from getting any financial aid at all till its paid in full to its to low for them to consolidate and im to broke to pay it they don't care fl.

[VM1138]

What's this business about forgiveness after 25 years? I don't have the paperwork with me and it confuses the hell out of me, but my paperwork seemed to imply last time I read it that with some loans after 25 years they will be forgiven. Now, I don't know if that's a "pay the minimum on time for 25 years" or what, or if it means something else entirely. Is this a thing?