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Can the Statute of Limiations Make My Sallie Mae Student Loans Go Away?

Written by Steve Rhode

“Dear Steve,

I have three Sallie Mae loans, all of which have gained interest in the past eight years. When I first went off to college I was very uneducated about student loans. Now, I wish I had better educated myself. I am scared to death of Sallie Mae because everyone I know that owes Sallie Mae has had their income tax check garnished-the entire check! A debt collection agency contacted me back in 2008 to settle for eleven thousand, but I didn’t even have 50 bucks to my name. So I declined the offer and haven’t heard anything since. I’m afraid if I contact them, it will become active again.

Is Sallie Mae covered under the statue of limitation for North Carolina? The first loan was in May 2006, the second in August 2006, and the third in January 2007. The interest has almost tripled my balance. I owe almost 40 thousand now. I know I have to pay, but can I get this off my credit report?


Dear Zenobia,

If the Sallie Mae loans were private student loans and they have been in default for more than the statute of limitations they could be eligible for an easy discharge in a consumer bankruptcy.

You can click here to find a local bankruptcy attorney and talk to them for free about your specific situation. Get the facts and then you can make an informed and educated decision if bankruptcy is right for you.

But Sallie Mae also services federal student loans and those loans can intercept tax refunds, private loans can’t.

You should first figure out what kind of Sallie Mae loans you have.

If they are federal then there are easy ways to resolve the default within your income, click here.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

READ  Sallie Mae - Consumer Complaint - February 20, 2014

About the author

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.

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