Managing Student Loan

"(Note this post is a repeat of one in another thread)"


If your student loan(s) are not in default, try to keep them that way.
Once in default, the borrower is subject to all kinds of collection practices that skirt due process.

At a minimum, to stay out of default, one need only make one payment every 270 days, that's it. The debt does not go away, but one can avoid all the "bad" consequences of a defaulted student loan and "buy" some time without defaulting.

If the loan is already in default, there is a rehabilitation process that requires 12 payments within a year and then the loan is taken out of default.

Hope this info will help.

pf