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Posted in Student Loans
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Katieb27

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Will my student loan be removed from my credit report?
The Student loan shows as a closed account due to transfer. What does this mean? Will it be removed from my report, it does not show up in collections?

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The only way student loans are going to be removed from your credit report is after they are paid in full, no matter how long that takes or ,if you were eligible for some type of forgiveness program.  Right now, they are being transferred from one loan servicing unit to another. It won't likely show as collections but that is their job.

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It means that the account with that company was closed. Closed accounts do stay on your reports for a certain amount of time. Accounts are not removed due to closure. Do some reading on the difference between Federal and Private student loans. The seven year fall off applies to Private loans but not Federal loans.

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