Hello! Does anyone know what the SOL on student loans is? I graduated from college 10 years ago and consolidated all of my loans as soon as I graduated...and I am current on all my payments. My sister who is 7 years younger than me graduated in 2003 and is consolidating her loans. All of a sudden her payment increased significantly last year and she called Sallie Mae to discuss the increase. Apparently, they added another $15,000 loan to her total pay off. She has been trying to figure it out with Sallie Mae and a year of detective work later Sallie Mae is saying that the additional $15,000 is my loan. Hmmm, doesn't sound right to me! I have no record of default on a loan on my credit report and I consolidated all my loans 10 freakin' years ago. Has anyone gone through anything similar to this or so you know the SOL? Would the SOL be in the stats you currently live in or where you went to school? Thanks so much for any advice!
There is no SOL on government student loans. None. They're your responsibility for life (barring permanent and significant disability). The tacking on your loans to your sister's is weird though. Maybe someone else knows what happened there.
Have you checked your Finacial Aid Review? It's basically a federal record of who has which loans. They will tell you what your original amounts were, who owns the loans, whether they are in default, what kind of loan they are, etc. It helped me when I was trying to figure out why my credit showed four loans instead of 3. Here's the phone number: 800-433-3243 And the website (you'll have to sign up for a PIN): http://www.nslds.ed.gov/ Your sister should get hers, too; that might show proof that one's being duplicated somehow. It's free to get this report.
