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Posted in Student Loans
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Moxie531

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I have an unpaid student loan that is a closed account, what does this mean?
It states that I am delinquent on a closed account for an unpaid loan. How is it closed if it is unpaid?

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What it DOESN'T mean is that the loan will vanish. Student loans are collectable until paid in full, even if it means their garnishing your Social Security benefits in the future.  They also cannot be discharged in bankruptcy unless extreme hardship is determined in an additional court proceeding.

Likely the closure means this particular loan servicer has tired of trying to collect on it and will be sending it to another loan servicer, whom you will hear from eventually.  So it is closed on one s ervicer's books and will be open on anothers.

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collection agency

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this usually means that the school has reported the dept to a collection agency who you will have to contact in order to pay it off.

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