Statutes of limitation set the maximum time after an event, such as default on a debt, during which a lawsuit may be brought. Statutes of limitation for private student loans vary by state from 3 years to 15 years, but 6 years is the most common, followed by 3, 5 and 10 years. Federal education loans were previously subject to a 6-year statute of limitations before the Higher Education Technical Amendments of 1991 (P.L. 102-26) eliminated the statute of limitations on federal education loans.
Private student loans are subject to a statute of limitations. Federal student loans are not.
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