Consolidating student loans get out default
Student loan consolidation can offer alternative repayment options.The federal government offers student loan forgiveness options for those that qualify for the program.
Comparing the Benefits You Regain After Rehabilitation and Consolidation Now that you have a better understanding of what rehabilitation and consolidation are, you can determine which option is best for you.
**Unless you make three voluntary, on-time, full monthly payments on a defaulted loan before you consolidate it, your choice of repayment plans for the new Direct Consolidation Loan will be limited to one of the income-driven repayment plans.
If you make three voluntary, on-time, full monthly payments before consolidating, you can choose from any of the repayment plans available to Direct Consolidation Loan borrowers.
They will help you figure out the best way to resolve the default based on your individual circumstance.
Default Resolution Group 1-800-621-3115 1-877-825-9923 TTY for the deaf or hard of hearing To rehabilitate most defaulted federal student loans, you must sign an agreement to make a series of nine monthly payments over a period of 10 consecutive months.
So you may you just finished celebrating the best 4 years of your life and one of the greatest achievements of your life by graduating with your college degree.