A statute of limitation sets a time frame to let a creditor know how long they have to try an come back and sue you for a debt that you owe. As discussed before, there are different statute of limitations depending on the type of debt that is owed. Unfortunately with student loans, there is no statute of limitations. Most student loans are Federal student loans which are backed by the Department of Education, in which they can come after you indefinitely for the debt that you owe. Under very rare circumstances, you may qualify for a cancellation of debt if you happen to become permanently disabled. Even more rare, you may try to discharge student loans within a bankruptcy if you fall within certain guidelines.

If you are having difficulty paying your student loans you can always attempt to see what your repayment options are including an income based repayment plan or asking for deferments until you are financially able to repay the loan.

Occasionally there are instances of private student loans in which there is a statute of limitations.  Usually, when signing up for the student loans you have agreed to the statute of limitations for the state in which the student loan lender resided. Therefore, if you are disputing the statute of limitations of a private student loans make sure you are aware of the limitations in the proper estate. Most student loans are backed by the federal government but it is not uncommon to see private student loans as well.