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In the US, you can not get another Federally Guaranteed student loan if you have one in default. You can get another student loan if you consolidate your defaulted loans.
To get help consolidating your defaulted loans, click on the link at the bottom of this text box.
Wiki User
∙ 14y ago
Wiki User
∙ 7y agoFortunately, there are a couple ways to regain eligibility for federal education grants and subsidized loans:
1. Rehabiliation: make income-based payments (could be as low as $5/month) for 9 out of 10 months.
2. Consolidate your loans: new consolidation servicer pays off current servicer and new loan start afresh along with your eligibility for education grants and loans.
Check out information on defaulted loans at the Department of Education's official site on Federal Student Aid: https://studentaid.ed.gov/sa/repay-loans/default
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How can one get out of student loan default?
The easiest way for an individual to get out of student loan default is to pay off the remaining balance of the debt in full. This would also be the quickest way to rectify the issue.
A student loan is considered default after?
In the US, a Federally Guaranteed student loan is considered default after 270 days on non-payment. If you need help with your delinquent or defaulted student loans, click on the link below.
Can you get a student loan default off credit?
Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com Any default is going to stick around for about 7 years.
How can I have my student loan forgiven?
One can have a student loan forgiven if one has no money at all to pay or if one joins a program called student loan which basically pays every penny of ones loan.
What is loan default?
If you don't pay a loan when due, you default on the loan.
Can you get a student loan if one of your parents is in default on their student loan?
Yes.
Can you get a federal student Stafford loan if one of your parents has a student loan that is in default?
Yes.
How can one get out of student loan default?
The easiest way for an individual to get out of student loan default is to pay off the remaining balance of the debt in full. This would also be the quickest way to rectify the issue.
What are the release dates for Default The Student Loan Documentary - 2011?
Default The Student Loan Documentary - 2011 was released on: USA: 21 October 2011
One spouse is in default on a student loan can the other spouse obtain student loans?
You should be able to as they are individual loans.
Will the government repossess your home for student loan default?
No, they will not.
A student loan is considered default after?
In the US, a Federally Guaranteed student loan is considered default after 270 days on non-payment. If you need help with your delinquent or defaulted student loans, click on the link below.
Can you get a student loan default off credit?
Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com Any default is going to stick around for about 7 years.
Why does a loan become callable?
A Federal student loan is considered in Default at 270 days of nonpayment.
Can my husbands wages be garnished if I default on my student loan?
Not if he did not cosign on the loans.
What happens if you default on a graduate student loan?
Most loans have consequences when you default like reporting negatively to the credit bureaus, garnishment of wages to repay the loan, ineligibility to get another student loan if needed; many late fees, and even a lawsuit to collect on the loan.
Can a wife get a student loan if her husbands student loan is in default?
In the US, yes you can. If you want help with the consolidation of your husband's defaulted student loans, click on the link below.
