Can Anyone Direct Me To Help With A Student Loan That’s In Default ? I’m Want To Complete My Ed.?
the loan itself is 20+ yrs old its only been in defualt since 1999 the rest of the time in deferment any lead s will be helpful nedd some place to start…thanks
Brian said
am August 28 2009 @ 7:50 pm
Well, hopefully you still know who your lender is so you can contact them to make some sort of payment arrangements up. If you don’t remember…then you can go to a couple of websites to figure out this information. Between the two sites you will have the lender info (name/telephone/website…etc) and who guaranteed your loans.
National Student Loan Data Systems
http://www.nslds.ed.gov (Department of Education’s database)
National Student Loan Clearinghouse
This website will tell you all the “student loans” that you have outstanding and the status of each one.
http://www.nlsc.org/students – loan locator
Just as it sounds…its a locator for your student loans.
They will end up setting you up on a payment schedule and after you make so many payments on time..they will take you out of default status. Then you will be eligible to borrow more student loans if you need them and have not borrowed the maximum.
Good luck!
Found-1 said
am August 28 2009 @ 8:12 pm
Try this website.
supersta said
am August 28 2009 @ 10:39 pm
When a loan enters default status, it is transferred from your lender to the U.S. Department of Education Debt Collection Services (US DOE DCS). So your best bet would be to contact them. They have a toll free number 1-800-621-3115. You can also take a look at your loan history online via the National Student Loan Data System at http://www.nslds.ed.gov.
The US DOE DCS does have the authority to sell the loan to other independent debt collection agencies, so if that has happened, they should be able to provide you the contact information and name of any new agency that you must deal with.
Once you have tracked down where your loan is being held, ask about what options you have to get the default cleared. Indicate that you are interest in clearing it for the purpose of regaining eligibility for further federal aid and the quickest way to do so.
Generally speaking, they will require at least 6 consecutive, voluntary payments before the default is cleared. Once the loan is out of default status, you may qualify to apply for a consolidation loan to retire the defaulted debt and create a new loan, so that is something you may want to ask about as well.
safety guidelines said
am August 29 2009 @ 12:11 am
ddduuuuhhhh!!!