VSAC has arrived to help you which help you to definitely create a start that is fresh. Make an agenda now to finish the effects of standard.
If you have a federal or personal education loan in standard with VSAC, click on the tabs below for information on the basis of the sort of loan you borrowed.
You’ve got choices to get free from education loan standard. The absolute most thing that is important may do is make use of VSAC now. We’re right here to simply help!
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CONSEQUENCES OF FEDERAL EDUCATION LOAN DEFAULT
You could have a defaulted federal family training Loan (FFEL) Program loan with VSAC. VSAC federal loans consist of FFEL Stafford, FFEL PLUS loans, and FFEL Consolidation Loans.
By simply making a strategy now, you are able to end the results of standard in your VSAC loan that is federal including:
- A credit history that is ruined
- Positioning with a group agency
- Wage garnishment
- Confiscation of federal income tax refunds or state taxation refunds, property taxation corrections, and/or tenant rebates through the Vermont Setoff commercial collection agency Program to fund your defaulted loan(s); or
- Loss in federal student help eligibility
MANAGING FEDERAL EDUCATION LOAN DEFAULT
Which choice is best suited for you personally and can help you satisfy your targets? There are many choices to completely repay or get the VSAC student that is federal Stafford, PLUS, and Consolidation loans—out of standard. Continue reading