Credit Advice

Call the US department of education and find out what's going on.

I had the same thing happen to me. I have a parent plus loan for 23000 taken out for my son for college. It also appears on my credit as "closed" and my overall debt has went down and the loan is not due to be paid back until 6 months after my son graduates, so we haven't paid anything on it either?? Does anyone know why it's doing that?

Same here. But mine is around $50,000, and it says closed. IT has to be a glitch. More sites  I went to said this, but TransUnion sure did show it lol. Can't wait to have to start paying that sucker back...

 The best is yet to come yall....I graduated 1993...was deemed disabled in 2005 after Katrina and after FINALLY finding a doctor to sign disability papers from school loan people, it was written off...I thought. It shows back up on my credit report THREE different times with three different companies. It would appear that the loan(s) were not written off, but were SOLD, only to reappear a few months later with more interest. I guess I might as well get a garnishment with the federal govt and let them pay it back out of my disability!?!? Or get $100 together and let Lexington Law do their thing....would it help? Worth a try, I guess...Any other suggestions?

My student loan stopped showing, as opposed to showing closed, as of November.  Not sure what's going on with it, I'm still in college and I should show an ongoing balance.  Better to not show at all than to show negatively I suppose.

 I have 2 different federal student loans. both of them say closed on my credit report now. the one Im pretty sure its because it just changed to a different bank. the other im gona guess it did the same thing. My loans were from Citibank and Dept of Education. This is probably what happened to all of you too.

I think it has to do with the direct loan website change over there have been a lot of glitches associated with the switch to the website. My last direct payment did not go through till a week after and showed up as late but then was retracted and corrected. I have the feeling it will pop back up at some point.

My credit dropped 10 points because the account shows closed.  US Department of Education is not taking phone calls at this time.  Very frustrating.

In October 2011 the US Department of Education did a major overhaul of its Direct Loan Servicing Website. I noticed also that my loan of $42,000 was closed last month as I noted when I checked CreditKarma this month. However, I believe that the Direct Loan Servicing has partnered with a company called Nelnet who used handle one of my private loans. In doing this transfer I believe what happened is the Department of Education had to close all of the accounts to transfer them to Nelnet. Hence, this month if your account was closed your FICO score would jump majorly. MIne jumped 29+ points. If that is the case, then eventually I will be crying when that $42,000 is added back onto my credit report. I am really hoping not, but then again I just entered repayment and received of course a much different looking statement. Yes, they still want my money! If you are looking for the new website for repayment it ishttps://myedaccount.com/ https://www.myedaccount.com/ . Reaching the Department of Education by phone is darn near impossible due to the website change. Give it a try though as it was a few weeks ago that I was trying.

Yea guys, Im having the same problem. Ive been graduated and repaying for about years. All of the sudden, BOOM, account closed. It has to be related to this stupid website switch over they did for loan servicing. It was down for a couple of weeks. Then they kept pushing back the due date. Now its showing up as closed on credit report, but If I log in to look at the balance, tada: still owe all that money.