What Shows on My Credit Report?

Private and Federal student loans should show on your credit report with the three primary reporting companies: Equifax, TransUnion and Experian. If you have several federal loans, you will have a trade line for each. The trade line should show the origination date, balance, date last reported, company reporting, and payment history.

How Long Do Student Loans Stay On My Report?

Only a closed or defaulted account will eventually cease to be reported. This is known as “aging off” or “fall off”. Open loans in good standing will be reported until closed or defaulted. While open, the creditor or servicer will update your credit report monthly.

Normally, a defaulted debt will fall off your credit report after 7.5 years from the date of the first missed payment. This applies to private student loans only. For federal student loans, the time is 7 years from the date of default. It can also be from the date the loan is transferred from a FFEL guarantor to the Department of Education. There is an exception. Perkins Loans never age off while a balance is due.

This creates an interesting phenomenon for federal non-Perkins student loans. A defaulted federal student loan, older than 7 years may not appear on a credit report. However, because there is no Statute of Limitations, collections can and will continue.

Can Student Loans Reappear?

Yes. A FFEL loan could reappear if it is transfer to the Department of Education. Another trigger that could bring back a trade line for federal student loans could be when you get the loan out of default. Once out of default, the loan is in good standing and will reappear on your credit report. At this point, none of the negative items will return to your credit report. It will appear as a loan in good standing.

Monitoring Your Credit Report

Checking your credit report is always a good idea, especially, if you are going to make any major purchases. It’s also a good idea to check your report if you receive any fraud alerts from your bank. Before you get obsessed about your credit score, confirm the accuracy of the reports. Accuracy of the information on your credit report including any student loans will bring about accurate credit scores. If the information is incorrect, see the credit reporting company with the inaccuracy for methods to submit corrections.