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Statute of Limitations on student loans

Tue Mar 25, 2008 10:03PM | By Tony

See more in Student Loans | Permalink | Email | Comments (0)

Q: Is there Statute of Limitations on student loans? I own about $52,000 after 5 years in Penn State and work as a social worker for DCSF in Chicago, making $33,500. Consolidated at 6.25% 2 years ago.

A: Sorry, but student loans don't have any time limits, they are yours till paid or you are dead. There are certain cases where you can get some hardship excuse, but from what I read and heard, to qualify you must be really in bad shape, which you are not. As a social worker, you may however get some debt relief, even quite a bit. Check student loan forgiveness programs. I think this is the one for Social Workers Loan Forgiveness. If you don't find anything relevant for you there, do more search.

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