A few days ago
What is the best way to repair a defaulted student loan?
What is the best way to repair a defaulted student loan?
Top 2 Answers
A few days ago
Favorite Answer
For some borrowers that default on student loans they can become eligible for a Rehabilitation program. It requires to make repayment arrangements with your guarantor and make 9 on-time payments. After becoming eligible, your guarantor sells your loan back to a lender and you are no longer considered in default.
Try contacting the holder of your defaulted student loan and ask about their Rehab. program. Make payment arrangements and stick with them for the 9 months.
1
A few days ago
Here’s a link to the Department of Education’s site that reviews the Rehab program mentioned above..
http://www.ed.gov/offices/OSFAP/DCS/rehabilitation.html
There’s additional information about consolidated programs under the William D Ford program that may help.
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