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My daughter is paying off a student loan balance. I called Allied Interstate today to get the payoff amount. Her principal balance is $600 less than the full balance, but Allied Interstate is requiring the full amount because they stated the account is in default. Is this correct?

When you default on a student loan, the balance becomes due in full immediately. She has daily accruing interest plus would have been charged up to 24% in collection fees which are federally mandated.
Were you expecting a lower balance??

Sub: #1 posted on Mon, 08/06/2012 - 10:06

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