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How long is it before your student loan debt is written off? |
If you have a student loan which you haven't started paying off yet as your don't earn enough does it get written off after a certain number of years? its in the small print somewhere. with the older loans it used to be about 25 years or until your aged 50ish, which ever comes first. Nooope, you've gotta keep paying it until it's gone. When you are buried....! Accountant..! It doesn't just disappear. It will go on your credit report and make you look bad. You need to call them up and set up some kind of payment plan, that you can afford. NEVER NEVER NEVER or unless that other one called NEVERRRRRRRRRRRRRRR The answer is never. The government will get its money back one way or another, through wage garnishment, withholding tax refunds, etc. Additionally going into default will make you ineligible for future aid and possibly impact other privileges. Your best bet is to call them and ask for a forbearance or work out an extended payment plan. |
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