How to survive the double whammy of a defaulted student loan and wage garnishment

Having your wages garnished is no laughing matter. Especially in today’s economy, even a slight dip in income can put you in a dangerous situation. In Illinois, residents who have defaulted on their student loans are finding out just how … read more →

Financial aid for people with defaulted student loans—really?

Most people with defaulted student loans don’t realize that they can get additional financial aid to help them through their current financial hardships. But you can. How? First, don’t file for bankruptcy. The Federal government and lending institutions take a … read more →

What is Defaulted student loan rehabilitation, and how does it work?

As its name implies, loan rehabilitation is a process whereby your damaged or compromised loan status is gradually repaired or nursed back to health, so to speak.  Loan rehabilitation is a valuable tool for those that have defaulted because it … read more →

I defaulted on my student loans

I defaulted on my student loans! What should I do now!? If you’ve recently defaulted on your student loans, don’t panic, you are not alone.  Every year more and more Americans are defaulting on their student loans, with no significant … read more →

Standard Repayment Plan

When repaying a Direct Consolidation Loan, you may choose from multiple repayment plans with various term selections. Standard Repayment Plan: You will pay a fixed amount each month until your loan(s) are paid in full. Your monthly payments will be … read more →