Normally, a defaulted debt will fall off a report after 7.5 years from the date of the first missed payment. This applies to private student loans. For federal loans, the time is actually 7 years from the date of default OR from the date the loan is transferred from a FFEL guarantor to the Department of Education.
Keeping this in view, do student loans come off your credit report?
If the account information is accurate, you probably can’t remove student loans from your credit report. Student loans that you have defaulted on or are delinquent on are going to stay on your credit report for seven years from the original delinquency date of the debt.
Likewise, do student loans fall off after 10 years? Defaulted student loans don’t always stay on your record forever. Normally, defaulted private student loan debt will fall off your credit report seven and a half years after the date of the first missed payment.
Secondly, how do defaulted student loans affect credit?
Defaulted private student loans and most defaulted federal student loans stay on your credit report for seven years from the date of the late payment. If you default on a Federal Perkins loan, the blemish will stay on your credit report until you’ve repaid the loan in full.
What happens if you never pay your student loans?
If you don’t make your payment, your loan goes into delinquency status. If you still don’t pay, your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government can all take action to recover the money you owe for your student loan debt.