Defaulted Student Loans

Getting Back on Track

Have you defaulted on your student loans? STC is here to help. Defaulting on your student loan(s) means that you have not made your payments on time, were unable to meet the terms of your student loan contract between you and your loan servicer, or you were unwilling to honor the terms of your student loan contract and refused payment.

There are 3 ways to get back on track:

• Loan Repayment – Simply means paying your student loan debt in full.
• Loan Rehabilitation – Involves you and the Department of Education agreeing on a reasonable and affordable payment plan. However, your loan(s) will only be rehabilitated when the required number of payments has been made according to the agreement between you and the Department of Education.
• Loan Consolidation – Allows you to combine several loans into one easy payment with a fixed interest rate.

For more information on defaulted student loans, please visit:

StudentAid.gov

Federal Student Aid

Avoiding Default
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Understanding Default Status
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Getting Out of Default
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Understanding Collection Status
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Loan Forgiveness, Cancellation, and Discharge
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