Have an attorney review the documentation to make sure the settlement is final and covers all the loans.

I've heard from borrowers who thought they were settling all of their debts only to find out years later that only some of their debts were paid off. (Most often this occurs when a borrower has both federal and private loans with the same lender. They think they are settling all their loans, but are actually only settling the private loans.)

So it's a good idea to have an attorney take a look at the paperwork to make sure nothing is being overlooked.

I asked for a letter showing the accounts and that the settlement was on total of both accounts (one was inherited when Fleet and Bank of America merged). There is no federal portion as far as I know.

They said the loans can not be pursued further because they are issuing a 1099 form on the remaining unsettled amount from the total.