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Is My Private Student Loan Subject to the Statute of Limitations?

“Dear Steve,

I currently have a private student loan that originated back in 2002. The interest is now more than the principal.

The collection agency is threatening to sue but the statute of limitations for my state is 6 years, its been 8. Can they still sue? Any help/advise would be greatly appreciated.”

Unfortunately this isn’t as clear cut as you’d hope.

If this loan was truly private and did not involve the government at all and had no underlying guarantor from a government program that it sounds like it would not be subject to an infinite statute of limitations like federal backed student loans.

You will really need to check with an attorney licensed in your state for specific legal advice regarding your particular loan and the appropriate statute of limitations that applies.


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Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

1 Comment

  • i have a private loans from the unversity i attend it is not in collection the school would not take a settlement offer by the way am from MS want to know is there a statue of limitations on these type of loans or can u tekll me way to get this loan paid and the school was also taking my state income taxes when i didnt pay monthly.

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