VSAC will be here to help you which help one to produce a fresh start. Make a strategy now to get rid of the results of standard.
When you yourself have a federal or personal education loan in standard with VSAC, click on the tabs below for information in line with the variety of loan you borrowed.
You’ve got choices to get free from education loan standard. The essential thing that is important may do is make use of VSAC now. We’re right here to assist!
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CONSEQUENCES OF FEDERAL EDUCATION LOAN DEFAULT
You have A federal that is defaulted family Loan (FFEL) Program loan with VSAC. VSAC federal loans consist of FFEL Stafford, FFEL PLUS loans, and FFEL Consolidation Loans.
By simply making a plan now, you are able to end the results of standard on the VSAC federal loan, including:
- A ruined credit rating
- Positioning with a group agency
- Wage garnishment
- Confiscation of federal taxation refunds or state income tax refunds, home taxation corrections, and/or tenant rebates through the Vermont Setoff commercial collection agency Program to cover your defaulted loan(s); or
- Lack of federal pupil help eligibility
MANAGING FEDERAL EDUCATION LOAN DEFAULT
Which choice is best suited you meet your goals for you and helps? There are lots of choices to completely repay or ensure you get your VSAC federal pupil loans—including Stafford, PLUS, and Consolidation loans—out of standard. Continue reading You might have defaulted on your own VSAC pupil loan, but don’t panic!