Handling Default

Default occurs when you have made no payments on your student loan for at least 270 days. When you default you have violated your loan agreement, and the lender or servicer can request immediate payment in full.

Are you dreading graduation because it means you will have to begin repaying your student loan? Or, are you already having trouble making your monthly loan payments? More importantly, do you know the consequences of defaulting on your student loans?

You should, because default can have long-lasting, negative consequences on your financial future!