Student Loan Consolidation

Student Loan Default

While pursuing a higher education is indeed one of the most important things you can do to better your life, the debt that often accompanies it can seem to suck the life right out of you. This is especially true for those of you who have fallen behind in your monthly payments and are no longer able to remain solvent. In this case you will be required to look into your options for student loan default. Fortunately student loan borrowers now have many more convenient options available to them for help recovering from their default payments.

One of the best resources and options comes through the U.S. Department of Education’s Default Resolution Group. This group has been providing excellent service to student loan borrowers by helping to actually make their repayment process a lot simpler than they might have originally thought it would be.

Another area that has helped current and past students with any default loan payment problems is the Federal Family Education Loans (FFEL). This includes the Federal Stafford, Federal Consolidation and Federal PLUS loans. If you have fallen behind in making payments for these programs your loan will most likely be assigned to the Department’s Default Resolution Group for collection.

In certain cases you may need to repay a partial amount of a federal grant that you received. If this repayment is indeed required, then those grants are designated to the department for collection due to an excess award payment or if you withdrew from the eligibility program too early.

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