Sunday, April 29, 2012

Delinquent Student Loans

Debt Consolidation and Credit Counseling

Prior to 1991, unpaid student loans could only be collected for six years after they were due. In 1991, the Higher US Department of Education Act was amended and the time limit for collection was lifted. In addition to applying to current and future loans, the retroactive amendment called in the debts of past delinquent student loans, making them collectible once again. The seriousness of paying off student loans was further enforced in 1998 when a

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