My student loan is from the 1980's. It was $7500.

My student loan is from the 1980's. It was $7500. To date I have repaid $15,000 and they say I still owe $22,000. Even though it has been a long time, this seems excessive and I was wondering if there is any relief?

3 Answers

The amount is really big. I agree with what Soaplady has said. If it is a federal loan, see if you can consolidate it through Direct consolidation loan.


For a federal loan, 30 years of interest and capitalized interest.  If defaulted collection fees and subrogation costs.  Student loans from the 80's had higher interest rates up to 10.5%.  I am doubting this is a private loan...it would have been sued already.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

Is it a private student loan or a federal one?


Write Your Answer

CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
What is the sum of 9 and 3


Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV


Page loaded in 0.195 seconds.