![]() ![]() How Long Do Student Loans Stay on Your Credit Report? Remember that this option is only for federal student loans, not private student loans, and can only be used once during your repayment period. If you complete the repayment plan, the default status will be removed from your credit reports, and you can continue paying off your loan balance. You can get federal student loans out of default and remove the default status from your credit reports through loan rehabilitation.ĭirect and Federal Family Education loans from the Department of Education can be rehabilitated after default by reaching out to your loan servicer and agreeing to a specific repayment plan. ![]() You can dispute an error online or send a formal request by mail.Ĭredit bureaus have 30 days to investigate the situation with your loan servicer and provide you with the results – but it could take longer, depending on the investigation. If the error was on all three of your credit reports, you’d have to file a dispute with each bureau separately. ![]() You could file a free account dispute directly with the credit bureaus if the error were corrected with your student loan servicer but not updated on your credit reports. You may have to file an account dispute with the credit bureaus if it hasn’t been corrected. You’ll want to follow up with your loan servicer if you haven’t heard from them in a couple of weeks.Ībout a month after your loan servicer confirms they’ve corrected the issue, check your credit reports to ensure the information was updated and the error removed. Mail it through certified mail with a return receipt request so you can keep track of it. Request for written confirmation that your letter was received they have corrected the issue and contacted the credit bureausĬheck with your loan servicer to see where to send your letter.Explanation of the issue you want to be resolved and how you want them to fix it.Copy of your credit reports showing the error.Student loan account number or reference number.If you’re writing a letter, you’ll want to include information such as: Gather any documentation that could help support your dispute – like student loan statements, credit reports, or proof that you’re up-to-date on payments. You may also be able to submit a dispute letter online through your account. Write a dispute letter to your student loan servicer when you want to correct inaccurate negative information they reported to the credit bureaus. Thanks to the Fair Credit Reporting Act, when a delinquency or default remark has been put on your credit reports in error, you have the right to dispute the error to get it removed.īelow are ways to remove errors (from any kind of situation) or a federal student loan default status from your credit reports. But if your federal student loan goes into default, you may be able to remove the default status through loan rehabilitation. You’ll likely have difficulty removing negative student loan remarks from credit reports if they’re legitimate. Ways To Get Student Loan Remarks Off of Your Credit Report To get this corrected, provide each of the credit bureaus with proof from your loan servicer that your loan account was closed. Sometimes, closed student loans are slow to update on credit reports and can be mistakenly reported as still open. If you’re approved for a loan deferment or forbearance, but the loan is wrongfully reported as default or delinquent, contact your loan servicer to confirm the dates and ask them to correct the information with the major credit bureaus (TransUnion®, Equifax® and Experian®). Then, contact your student loan servicer to have the information corrected. If your student loan is mistakenly reported as default or delinquent on your credit reports while in school, call your school’s registrar’s office to get proof of enrollment. Student loans should be deferred while you’re in school – check your loan agreement. You also won’t be able to remove student loans in good standing from your credit reports just because they have a large balance you don’t want to show up on credit inquiries.īelow are some common situations when inaccurate student loan information may be reported and removed. ![]()
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