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     | Sunday, March 05, 2000 - 06:25 pm  I have a defaulted student loan on my credit report for $9,000. The credit report says it's due to be taken off in 2002. However, a rep from PHEAA(Pennsylvania student loan place who guaranteed the loan) says that student loans NEVER come off a credit report. Is this true? I guess it would be better to wait instead of paying.
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| | Monday, March 06, 2000 - 02:27 am You will need to pay it off if you have not already. My defaults stayed on for 7 years from the date they went into default. I would look into the rehabilitaion option. You will need to make regular payments for a period of time, then the state will buy it back. I did not have this option when mine defaulted. I cannot strees enough, do not think they will go away, even Chapter 7 will not charge off student loans. Pay what you can or you will never get a decent offer of credit.
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| | Monday, March 06, 2000 - 06:32 am Here's a great site that answers lots of questions about defaulted student loans. http://www.ed.gov/offices/OPE/DCS/
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| | Tuesday, March 07, 2000 - 09:25 am I went thru the rehab program, I paid as agreed for 12 months, When it was time for the items to be removed. The Dept of Education said that only the company that placed the item on the report can remove it. I called Citibank and they refused. They said that they have to right to report the info. I called back the Dept of Edu and they said they could not force the company to remove. I ask why do they advertise the program as a rehab where a person can get negetive entry remove if they agree to the terms. Answer: " I don't know " Steve
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| | Tuesday, March 07, 2000 - 09:45 am Steve, That's what I'm talking about. I went through the rehab period, have the letter stating they would repurchase the loan, and was told 2 years ago if they repurchased it, it would be placed in good standing on the credit report. However, if the seven year period applies, it'll be off the credit report in 2002 anyways. I know in the end, I'll have to pay eventually. But I'd like it off the credit report now.
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