A 38 year old student loan

[legalneedy]

New York - I made a student loan in New Jersey around 1973. It was never paid. I never received a statement until after 1992. I want to know since this debt is over 38 years old is there a grandfather law which states that when a debt is over ten years old it is no longer valid?

 

[Antigone*]

New York - I made a student loan in New Jersey around 1973. It was never paid. I never received a statement until after 1992. I want to know since this debt is over 38 years old is there a grandfather law which states that when a debt is over ten years old it is no longer valid?

Student loans will follow you to the grave!

 

[applecruncher]

1973 would be 35 yrs, not that it matters. You knew you owed, regardless of when you received a statement.

Other person is correct - student loans follow you until they are paid off.

 

[nrknlknek]

The prior responses are correct in that student loans are not subject to SOL and I have more bad news...they normally cannot be discharged in bankruptcy,

 

[phase08]

And they accrue interest. Surprised you haven't been pursued via wage and bank acct garnishment, seizure of tax refund, etc. But, they WILL get you. Best to try to make some arrangements.

 

[dirtyscoundrel]

All of you are right about student loans not having a statue of limitations. However, that wasn't always so. I can't remember what year it changed, but before you could get it discharged. If you took out your loan before that, you may be able to get off the hook. You'll have to do some googling.