Our Best Answer: What can I do if my loan goes into default?

Help for Loans in Default

If you're notified that your loan is in default, contact your loan servicer. They'll inform you under what circumstances you may have the default status removed and will discuss the possibilities for you to rehabilitate your loan once you make 9 consecutive, voluntary, on-time payments. Loan rehabilitation provides you with a "second chance" by removing your loan from default status, restoring financial aid eligibility and reinstating deferment privileges. Visit this U. S. Department of Education site to view options on How To Get Out of Federal Student Loan Default.

Repayment assistance may be available if you serve in the military. For more information about repayment assistance, consult your recruiting officer.