how to find out if your student loans are in default

Since your entire unpaid loan balance comes due when you default, you can get out of a defaulted private student loan by paying it off. Student loan default generally occurs on your student loans when you do not make a scheduled payment on your student loan for a period of at least 270 days. Loan Rehabilitation Loan Consolidation Repayment in Full Getting Help With Your Defaulted Loan This is a possibility if you have federal student loans in default that have gone to a collections agency (which would happen after you're 270 days late on your payment) and you're looking to catch up on your loans and clean up the late and missed payments that have made it onto your credit report. Federal debts are normally reserved for federal programs and initiatives. How to get student loans out of default. Federal debt is serious and if you do have some, you must take immediate steps to begin repayment. This default status will be displayed on your credit report and will make it difficult to take out any loans in the future. To be able to get student aid again, you must bring your loan up to date. You could opt for a loan rehabilitation. If you’re like many borrowers in this situation, you are probably freaked out and don’t know what to do. The two main ways to get out of default are loan rehabilitation and loan consolidation. agree to repay the new Direct Consolidation Loan under an income-driven repayment plan or. Most federal loans have the beneficial, built-in option of Direct Loan Consolidation. Student loan default is what happens when you've neglected to make payments toward your student loans for a certain period of time. Furthermore, you need to take steps to get your student loans out of default through a process called student loan rehabilitation. The time it takes to default and the repercussions of doing so will depend on the type of loans you have. Don’t worry — you still have options to remedy your situation. If you failed to make your payments on your federal student loan and now are in default, don’t let the consequences of default affect your financial future.Find out how to get out of default. 2. Although federal law limits tax offsets to federal obligations and loans that are delinquent for at least 90 days, student loans must be delinquent for at least 270 days if they are payable on a monthly basis or 330 days for loans payable at less frequent intervals. That’s an unlikely scenario, given that your inability to make monthly payments is what led you to default in the first place, but theoretically it’s an option. By converting your loans into a single monthly payment, you not only have an opportunity to make student loan repayment more affordable, you also gain the added benefit of bringing your loans out of default upon approval. What Happens Once You Default on a Student Loan? One way to get out of default is to repay the defaulted loan in full, but that's not a practical option for most borrowers. This, of course, means you will also need to commit to a new repayment plan that replaces any old plans your prior loans were issued through. Don’t ignore your student loan payments—defaulting on your loan can …