Default occurs when you have made no payments on your student loan for at least 270 days. When your loan defaults, you are considered in violation of your loan agreement, and your lender or servicer can request immediate payment in full. Default can have a long lasting, negative effect on your financial future.
If your monthly payments are more than your current financial situation will permit, please contact your loan holder, servicer, or TG immediately to learn about your options and avoid the consequences of default. We can help.
Here are other documents located on www.tgslc.org that you may be interested in:
- Handling Default of Your Student Loan | Consequences of Student Loan Default
- Handling Default of Your Student Loan | Frequently Asked Questions About Student Loan Default