I have a student loan in default. What are my options?
If you default on your student loan, it means you failed to make your loan payments as scheduled. Your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government all can take action to recover the money you owe. Here are some consequences of defaulting on your student loans:
Obviously, you don’t want to let your loan go into default. However, should this happen, find out what options are available. Click on this link to our Guide for Defaulted Borrowers to find comprehensive information developed by the Department’s Federal Student Aid Collections section.
Student loan borrowers in default now have more options than ever before to repay student loans. The U.S. Department of Education's (Department) Default Resolution Group is committed to assisting you by making debt repayment a simple process. Contact them at 1-800-621-3115.