Statute Of Limitations On Private Student Loans In Pennsylvania

The statute of limitations on private student loans in Pennsylvania is 4 years. This means a private student loan lender generally has 4 years from the date you default on the loan to sue you in court to recover the debt.

Here’s a breakdown of what the statute of limitations implies for private student loans in Pennsylvania:

• Not Debt Forgiveness: It’s important to understand that the statute of limitations does not mean the debt goes away after 4 years. The loan itself remains your obligation.
• Collection Efforts Continue: Even if the lender can’t sue you after 4 years, they can still:
  • Report the debt to credit bureaus, which can negatively impact your credit score for up to 7 years (depending on the debt type).
  • Sell the debt to collection agencies who may continue collection attempts.