Is there a point at which a student loan borrower can get their loans forgiven due to the age of the loans? If you're still repaying your loans after twenty years, is there a time when enough is enough?
Is there a point at which a student loan borrower can get their loans forgiven due to the age of the loans? If you're still repaying your loans after twenty years, is there a time when enough is enough?
If the loans are not federally guaranteed, and a state statute of limitations applies, then there would be a date following default after which no action could be taken through the courts to enforce the loans.
But if the loans are being actively repaid, the state does not have a statute of limitations that would apply to the loans, or the state statute of limitations is preempted by federal law, then there is no such date -- absent qualification for some sort of loan forgiveness program, the borrower is expected to pay back the loans.