2006-07-07 11:23:39 · 6 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
Unfortunately, the only way to erase a defaulted ed. loan is to pay it,plus any lawyer fees.You can try to also consolidate the defaulted loan.
2006-07-07 15:15:49 · answer #1 · answered by Jenna 3 · 0⤊ 0⤋
You should make an attempt to pay even $5 a month on it. You shouldn't default on a loan, it's not cool. You knew you were on a limited income at the time of the loan. Were you trying to default? Try to work out a deal with the loan company and do the right thing.
2006-07-07 18:26:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Consolidate the loans if more than one. More the loan to a new lender, if only one, and ask for income based payments. If your disability was a factor when you took out the loan, the disability cannot be a factor in not having to make repayment.
2006-07-08 00:17:28 · answer #3 · answered by brenda c 2 · 0⤊ 0⤋
A GREAT souce for learning about student loan troubles is
"Credit Boards" on the Internet. There is a section on credit
boards devoted to student loans. Unlike the google forums,
the people on Credit Boards really do have a lot to offer,
and none of the sarcasm and meanness that you find on
google.
2006-07-07 18:28:59 · answer #4 · answered by berrytrain 2 · 0⤊ 0⤋
you were not smart for getting it to start with and now the government won't discharge the loan because you were disabled before you got the loan. So the answer is expect to pay up with a lot of interest and penalties
2006-07-07 18:28:42 · answer #5 · answered by ML 5 · 0⤊ 0⤋
I just wanted to point out that there is more than one way of looking at this situation. Some of the answers you got were pretty judgmental. I think that it takes great courage for a disabled individual to try and better their education in the hope that they may someday be able to work. I am sorry it didn't work out for you.
Judy K
2006-07-08 02:02:25 · answer #6 · answered by Judy K 1 · 0⤊ 0⤋