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Student Loan Default Explained

Student Loan default occurs when the borrower has missed payments. The number of payments it takes to go into default will vary by lender. If your student loans are federal, default occurs after nine months of missed payments. However, with private loans default can occur after missing just one payment. Default can also occur if the borrower’s agreement is violated in any way. This includes starting bankruptcy procedures. As soon as a loan goes into default the entire balance is due at once. The consequences of default can be severe but hopefully this article will show you how to avoid it. […]

By |September 23rd, 2012|Default|0 Comments

9 Consequences of a Student Loan Default

What happens if you default on the student loan? The government actually has a very powerful tool that it uses on those borrowers who do not make student loan payments. The tools that are used by the government include… […]

By |September 8th, 2012|Default|0 Comments