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Posted in Student Loans
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Question By
QuinMin

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0 People Helped
I have 5 diff Student lones showing ....all for the same place (The US Gov) why ?
So i get one statment telling me i owe XXXXX but i see on my Report that the us EDU has 5 diff reports ( yes they all add up to the amount i owe on my statements but the 5 diff accounts that are behind hurting my credit when it is really just one thing Student lones. how do i fix this ?

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Top Contributor
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Been there.

You really can't 'fix' this because each time one of the different loan servicers gets the account, they report it as theirs.  The previous ones usually do show they have been transferred.  Just have to work on getting the loans paid off since they do remain collectable until paid, no matter how long that takes.  They will not drop off after a specified time like most other financial arrangements. They also are not dischargable in bankruptcy. That is one of the 'perks' the student loan industry managed to get in a rewriting of the bankruptcy law some years ago (about 20?).

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