How To Remove Student Loans From Your Credit Report

Student loans can have a long-lasting impact on your credit score, whether you're making regular payments or struggling to keep up. While a strong payment history can work in your favor, late or missed payments can hurt your score.

If your credit report contains incorrect student loan information, you may be able to remove it. In fact, a Consumer Reports study found that 44% of Americans had at least one error on their credit reports, 27% of which were serious enough to damage their credit.

Here's what you need to know to correct these errors and protect your financial health.

How long do student loans stay on your credit report?

How long your student loans remain on your credit report depends on whether the information is positive or negative.

“If you're still paying down a student loan, that account will stay on your report until you've paid it off. After you've paid it off, it will stay on your credit report for up to ten years if you haven't been delinquent on your payments,” says Leslie Tayne, a debt relief lawyer and founder of the Tayne Law Group.

Negative marks, like late or missed payments, will stay on your credit report for seven years.

“If you have a federal student loan and fail to make your late payment 90 days after the due date, the lender will report it as delinquent to the credit bureaus, and that late payment will stay on your credit report for up to seven years,” adds Tayne.

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Can I remove student loans from my credit report?

If your student loan information is accurate, you won't be able to remove it from your credit report. However, if there's an error, such as a late payment that was reported incorrectly or a loan that doesn't belong to you, you have the right to dispute it. To check for mistakes, review your credit report from all three major credit bureaus: Experian, Equifax, and TransUnion.

Common student loan errors on credit reports

Errors on credit reports are more common than you might think. Checking your credit at least once a year is a good habit, but reviewing it more often can help you catch errors early.

“Incorrect information may be the wrong address or even payments incorrectly listed as delinquent,” says Tayne.

Here are some common student loan errors to watch out for:

• Incorrect personal information: According to Consumer Reports, 34% of consumers found that their personal information was inaccurately reported. When you check your credit report, make sure all personal information like your name, address, and Social Security number are accurately reported.
• Incorrect balances or duplicate loan entries: Inaccurate loan balances are another common mistake that can hurt your credit score. The original loan amount may be overstated, making it look like you owe more money than you actually do.
• Inaccurate payment status: Sometimes lenders will report inaccurate account information, like marking loans as delinquent even after you've made payments on them.
• Data input errors: If you've previously reported incorrect information on your credit report, there's a chance it could show up again. This is a data input error, and requires filing a new report with the credit bureaus.

How to dispute incorrect student loan information

If you notice inaccurate information on your credit report, the student loan credit dispute process can help you fix it. You'll start by contacting the credit bureaus and your student loan servicer. Write a letter explaining why the information is inaccurate, and make sure to include the following details:

• Your name and address
• Every mistake you want fixed and why
• Copies of any supporting evidence
• A copy of your credit report, making note of the errors

Send the letter by certified mail and pay for a “receipt return” so you have evidence the credit bureau received your letter. Once you've filed the dispute, the credit bureau has 30 days to respond and they must give you the results in writing.

“When you reach out to the credit reporting agency, make sure to include what you're disputing, why you're disputing, and any evidence you have,” says Tayne.

In addition to contacting the credit bureaus, you also need to contact your loan servicer or lender to rectify the issue.

“Reach out to the lender who furnished the information for the credit report — you'll similarly want to explain what information you're disputing, who you are, and why you think the information is wrong.”

You can use this sample letter from the Federal Trade Commission to contact your lender or loan servicer.

Tips for maintaining a strong credit score

Your student loans can help or hurt your credit score, depending on how you manage them. Here are some tips for maintaining a good credit score while managing student debt.

• Make on-time payments: The best way to maintain a good credit score is by making on-time payments. “If you cannot keep up with your student loan payment amount and schedule, contact your loan servicer asap instead of avoiding handling the situation,” says Ohan Kayikchyan, a certified financial planner (CFP).
• Monitor your credit report: You're entitled to receive a free copy of your credit report from the three major credit bureaus once a week. You can also sign up for a free or paid credit monitoring service that will allow you to monitor changes to your credit score more frequently.
• Look into income-driven repayment plans: If you have federal student loans, you may want to look into income-driven repayment plans. These plans set your monthly payments at a percentage of your discretionary income, making your loans easier to manage.
• Consider refinancing: Refinancing private students can lower your interest rate and monthly payments, making it easier to manage your debt. But note that if you refinance federal loans, you'll lose access to income-driven repayment plans and forgiveness opportunities. Weigh the pros and cons of refinancing before deciding.