Defaulting on student loan debt is never ideal, but sometimes it’s outside of your control. It’s certainly not rare. Approximately 11.5% of borrowers with student debt default on their loans. If you make a mistake or can’t make payments because of something outside of your control, you can get the negative event removed from your credit report.
But how you’ll get it removed and how long it takes depends on what type of student loans you have.
Can student loans be removed from my credit report?
In a word, yes. It is possible to get a defaulted student loan removed from your credit report. It’s not easy, however, especially if you’ve defaulted before or you have private student loans.
If a borrower who has defaulted on a federal student loan rehabilitates the loan by making nine out of 10 on-time, consecutive, full, voluntary monthly payments, the default will be removed from the borrower’s credit history, says Mark Kantrowitz, a student loan expert at Private Student Loan Guru.
If a student loan is inaccurately reported on your credit report, you should be able to get the student loan removed from your credit report
You only get one try
Unfortunately, however, you can only take advantage of this once.