Are there any restrictions on how long I can have a student loan?

In Wisconsin, the state’s student loan law does place some restrictions on how long you can have a student loan. Generally speaking, you can’t have a loan for more than the length of the educational program you’re enrolled in. For example, if you’re enrolled in a four-year degree program, you can’t have the loan for more than four years. In addition, many private lenders that offer student loans in Wisconsin limit the term of the loan to 10 years. This means that if you can’t repay your loan within 10 years, you’ll have to work out a different repayment plan with the lender. Finally, some student loans in Wisconsin are subject to a statute of limitations, which means that after a certain period of time, you won’t be held legally responsible for repaying the loan. In Wisconsin, the statute of limitations is generally 10 years after the date of the last payment on the loan, or the date the loan went into default. Overall, while there are restrictions on how long a student loan can be taken out in Wisconsin, there are ways to manage the repayment of your loan so you can repay it within the time frame you’re allowed.

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Are there any restrictions on how long I can have a student loan?

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