Welcome to Student Loan Guide
Student Loan In Default Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
Eligible Loans for Federal Loan Consolidation
from:The following federal education loans are eligible for consolidation into a Federal Consolidation Loan:
* Direct Subsidized and Unsubsidized Loans
* Federal Subsidized and Unsubsidized Federal Stafford Loans
* Direct PLUS Loans and Federal PLUS Loans
* Direct Consolidation Loans and Federal Consolidation Loans
* Guaranteed Student Loans
* Federal Insured Student Loans
* Federal Supplemental Loans for Students
* Auxiliary Loans to Assist Students
* Federal Perkins Loans
* National Direct Student Loans
* National Defense Student Loans
* Health Education Assistance Loans
* Health Professions Student Loans
* Loans for Disadvantaged Students
* Nursing Student Loans
Ineligible Loans
Some loans are always ineligible for consolidation. While these loans may not be included in a Federal Consolidation Loan, they may be considered in the calculation of the maximum repayment period under the Graduated or Extended Repayment Plan. These include but are not limited to the following:
* Loans made by a state or private lender and not guaranteed by the federal government
* Primary Care Loans
* Law Access Loans
* Medical Assist Loans
* PLATO Loans
Source: US Department of Education and StudentLoanConsolidator.com
Student Loan In Default News
As Student Loan Default Rates Rise, Is the Law School Bubble Bursting?
Here at the Student Loan Ranger, we recently read about Educational Credit Management, a Minnesota nonprofit that is earning commissions of up to 31 percent for collecting on defaulted student loans. Seven of their employees earned more than $400,000 in 2010, according to the San Francisco Chronicle.
Read more...The student loan cost-benefit analysis for 750 professions (Interactive)
As estimates of the total student loan debt exceed $800 billion and default rates approach 9 percent, some commentators are beginning to wonder whether an expensive education is really worth it, at least from a financial perspective. The combination of skyrocketing tuition and a dismal job market creates an environment where many are struggling to pay off hefty loans.But this is more true of ...
Read more...Pay student loan, not kids' 529
Q. I am behind, and verging on default, on my student loans. I have made arrangements with the federal loan servicer, but there's simply no way I can pay my private loans, and they say that they cannot accept the small amount I can pay regularly. I have two small children. Each has a Maryland 529 college account for which I am the owner/custodian. If my loan goes into default and the servicer ...
Read more...Student loan 'could land you in court' if you move overseas
More and more graduates are seeking job opportunities abroad but using a stint overseas as an excuse to avoid repaying debt could have serious financial repercussions.
Read more...Student loan default rates rise in Chattanooga and across the country
Default rates on student loans have risen in Chattanooga and across the country, reaching their highest levels in at least three years.
Read more...