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How can I delete Student Loans from my credit reports?


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I have 2 student loans; one for $36,000 (Consolidated) with DOED paying $200 a month for the next 1,000 years, and the other one for $3,500 with my old university paying $46 a month for the next 10 years or so. I got my BA and MBA because of them. I have been paying them on time for the past 6 years and they have been reporting them accurately and everything is fine, EXCEPT;


Their interest rates are around 4.5% and they are fully tax deductible which makes it crazy to pay them off, besides not being able to. But when I apply for a car loan or a home loan, this is what takes the center stage. My debt to income ratio is too high because of these 2 loans.

What can I do about it? I even had to explain to loan officers that these student loans were not just expenditure but investment in me, and I have a valuable MBA which brings me $75,000 a year, but I think I sang on deaf ears. It seems that university degrees are not valuable commodity.

Is there anyway to delete them, or do something?

I appreciate it very much; you guys and gals are great.


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You interest rates are VERY HIGH for a student loan. Are you sure they are 4.5%?

Your situation is almost EXACTLY like mine, debt amounts and everything. I don't know what loan officers you've spoken to, but it's odd to me that they are saying your debt-to-income ratio is too high, seeing you make $75,000 and these are student loans you're paying off, which usually fall into a 10 year plan.

If I were you I'd check with another loan company. I'd also pay down the smaller loan immediately (within 3 months) and then try to get an income contingency plan or consolidation on the loans. You are paying a really high interest on a loan that's over 6 years old.

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