Sallie Mae Sux!

I have this in my notes but can't find the link to where I got it from (sorry!):

1. The reporting periods have been lengthened for certain adverse information pertaining to U.S. Government insured or guaranteed student loans, or pertaining to national direct student loans. See sections 430A(f) and 463(c)(3) of the Higher Education Act of 1965, 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3), respectively.
463(c)(3) Notwithstanding paragraphs (4) and (6) of subsection (a) of
section 605 of the Fair Credit Reporting Act (15 U.S.C. 1681c (a)(4),
(a)(6)), a consumer reporting agency may make a report containing
information received from the Secretary or an institution regarding
the status of a borrowerâ??s account on a loan made under this part
until the loan is paid in full.
430A(f) DURATION OF AUTHORITY.â??Notwithstanding paragraphs (4)
and (6) of subsection (a) of section 605 of the Fair Credit Reporting
Act (15 U.S.C. 1681c (a)(4), (a)(6)), a consumer reporting agency
may make a report containing information received from the Secretary
or a guaranty agency, eligible lender, or subsequent holder
regarding the status of a borrowerâ??s defaulted account on a loan
guaranteed under this part untilâ??
(1) 7 years from the date on which the Secretary or the
agency paid a claim to the holder on the guaranty;
(2) 7 years from the date the Secretary, guaranty agency,
eligible lender, or subsequent holder first reported the account
to the consumer reporting agency; or
(3) in the case of a borrower who reenters repayment after
defaulting on a loan and subsequently goes into default on
such loan, 7 years from the date the loan entered default such
subsequent time.

Here's another link I have:
http://www.carreonandassociates.com/sl2.htm

I know there is some stuff on the board if you do a search for "Higher Education Act". I'll keep looking and I hope this helps somewhat.

 

Fight! Fight! Fight!

Good Luck! Go get 'em!