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If a defaulted student loan is consolidated with repayment at 0 does this affect credit rating for non-payment?
Wiki User
∙ 8y ago
No, if you receive an income sensitive repayment plan after consolidating and the payment is $0 because of your dependents and income, then it will not adversely affect your credit score.
Wiki User
∙ 8y ago
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How do you stop a student loan wages garnisment?
You should consolidate your defaulted student loans and stop the wage garnishment. You can get an income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below
Can you go back to school if your old student loans are in default?
no you can not. contact the department or company that your defaulted student loans are located at. some have a repayment/rehabilitation plan. When you complete this you can go back to school. best of luck!
Where would one consolidate student loans?
Almost all federal student loans can be consolidated under the Direct Consolidation Loan program. They offer multiple repayment plans and fixed interest rates. Private student loans that do not qualify for consolidation under the Direct Consolidation Loan can be consolidated through separate programs such as NextStudent, Student Loan Network, and Wells Fargo.
Are you eligible for a single-mother student grant if you have defaulted on your student loans?
In the US, the answer is no, unless you rehabilitate the defaulted loans for 12 months or unless you consolidate the loans. A person with defaulted federal loans is not eligible for additional federal assistance until the default status is rectified. Once the loans are rehabilitated or consolidated, you will then be eligible to go back to school and receive additional loans or grants. If you need help consolidating your federal student loans, click on the link below this text box.
Do you have to pay for a student loan that was made 35 years ago?
Yes, there is no statute of limitations on the repayment of student loans. Federal collection agencies will try to collect on the loans even into retirement. In fact, the Dept. of Ed. will garnish Social Security income for defaulted student loans.
How do you pay student loans if you are on welfare?
Yes, but you can consolidate your loans and opt for the income-based repayment plan and pay as little as $0 a month, defending on your income and dependants. If you want help with the consolidation of your defaulted student loans, click on the link below.
Can a person refinance student loans even though they have already been consolidated?
You can only consolidate your federal student loans once, unless -you need to re-consolidate in order to qualify for public service options that were not available when you previously consolidated. -your existing consolidation loan has been referred to the guarantor for default prevention, or has defaulted, but is not yet in wage garnishment status.
How can student loan debt be consolidated?
Student loans can be consolidated after graduation or dropping out of school by filing with the government to consolidate all federal student loans. Remember that non-federal loans cannot be consolidated.
Repossess for a defaulted student loan?
In the US, the Dept of Ed. does not reposes anything on the repayment of Federally Guaranteed Student Loans. They will only garnish wages, garnish social security, and keep tax returns. If you need help getting out of Default on your student loans, click on the link at the bottom of this text box.
Can you get your student loans paid for by joining the peace corp?
if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans
Can the government take your car if you default on your student loan?
No, the government does not reposses property for defaulted student loans. A great program that started this past July 1 is the income based repayment plan. If you consolidate your loans, you can opt in for this repayment program. Your payment can be as low as $0 a month, based on income and # of dependents. You also have the balance forgiven after 25 years of repayment, even if you have hardly paid any of it. If you want help with the consolidation of your loans, click on the link below.
Wage garnished student loan paid off can you get another student loan?
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
