Legal Question in Credit and Debt Law in California

Student loans

I am severly defaulted on student loans that I took out when I was 16-18 and I was wondering if it was even entirely legal for me to have student loans at 16. My student loan collector Edfund tells me that if I took an ability to benefit exam at Heald college where I went to school then that means I am accountable for my loan but does that apply if I was underage? This was back in 1999-2001. I've been told that you cannot enter into a legally binding contract if you are a minor and I'd be more then happy with any advice you could provide me with.


Asked on 2/01/07, 1:15 pm

1 Answer from Attorneys
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Student loans

You can't enter into a contract for private student loans if you're under 18 in most circumstances.

Federal student loans (from the government) are another story: there's a specific exemption in the law which does allow federal student loans to be binding on you even if you're under 18 at the time you sign for them.

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Answered on 2/01/07, 1:24 pm


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