2007-03-27 14:32:12 · 5 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
You contact your lenders directly or the collection agency and get on a payment plan and keep it. Give them a chance to see you trying pay the loan off. You will eventually be able to receive financial aid again if you need it, but you have to show your trying to bring the loan out of default.
2007-03-27 15:37:11 · answer #1 · answered by Mz.. K........ 2 · 1⤊ 0⤋
Contact the Federal Student Aid Information Center toll free at 1-800-4-FED-AID.
If your loan is in default you have to pay it in full first.
2007-03-27 19:23:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
to elaborate on that other answer.. You will need to make six consecutive on time payments in order to be eligible for financial aid again. That is how you clear a defaulted loan.
2007-03-27 15:53:07 · answer #3 · answered by SZ 3 · 0⤊ 0⤋
You need a title 4...to get it you have to make six consecutive payments and you will get your title 4...make three more consecutive payments and your loan will return to the original lender!!! If i'm not mistaken after above is completed it will be removed from your credit report...you will have to ask about that one though!!! Good Luck!!
2007-03-27 16:51:10 · answer #4 · answered by heatherpd 2 · 1⤊ 0⤋
Pay it. Gee simple aye?
2007-03-28 01:35:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋