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I went into default on my student loans as I suffered stroke

Date: Thu, 10/06/2005 - 22:40
Submitted by on Thu, 10/06/2005 - 22:40
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I believe I just recently went into default on my student loans, I believe, as I suffered 4 strokes and, was getting better from them and let go of all things financial for someone else to care for during my rehab. But now want to and need to go back to school but do not know how to look up if I have outstanding loans or if I am still OK, to go back and get loans, I know I am going to need letters to the school telling them why I should be let back into school after leaving 2x's without notice. But, I really need help in figuring out how to handle my loans as I have no information on them anymore.

Sincerely, Tammy and thank you.


PatWebb95,

I'm very sorry to hear about your medical problems and I certainly hope you are doing much better!

I would recommend consolidating any outstanding loans you might have. You'll be able to pay them off faster with one payment a month. You might still be able to get a student loan, and I'm sure someone here can certainly recommend a good company to loan with.
I am also sure your school of choice will understand why you left twice. Your reason is VERY excusable and you had a very good reason to leave. You COULD try another school, if you wanted to, also.

Do you have any record of your loans? And if not, havent any of them contacted you regarding possible outstanding fees? If not, then they might have been paid off. But check your records, just in case.


Submitted by Lindsey on Fri, 10/07/2005 - 07:45

Lindsey

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Tammy,

Default student loans will inhibit you from receiving further federal grants. You should try to make your accounts current if you want to get some loans in future.

Both consolidation and rehabilitation make you eligible for federal loans again. Rehabilitation is a good process, but it has some limitations also. If you fail to pay the installment timely, the process is cancelled and it cannot be rehabilitated again.

I'll suggest you to consolidate your student loans. It will make you eligible for federal student loans and help you to repay your loans with easy monthly installments as well.

See the forum discussion on this topic-
http://forums.debtcc.com/forums/backto-school.html

Never hesitate to contact your loan holder or your school because proper negotiation can solve lots of troubles. I think you've a strong point to support your situation. Forward your medical certificates to prove your inability.

Take care,
Bryan


Submitted by 4u.bryan on Fri, 10/07/2005 - 10:34

4u.bryan

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