VSAC is here now to help you which help one to produce a start that is fresh. Make an agenda now to get rid of the effects of default.
You borrowed if you have a federal or private student loan in default with VSAC, click the tabs below for information based on the type of loan.
You’ve got choices to escape education loan standard. The absolute most thing that is important may do is make use of VSAC now. We’re right here to greatly help!
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CONSEQUENCES OF FEDERAL EDUCATION LOAN DEFAULT
You may possibly have A federal that is defaulted family Loan (FFEL) Program loan with VSAC. VSAC loans that are federal FFEL Stafford, FFEL PLUS loans, and FFEL Consolidation Loans.
By simply making an idea now, it is possible to end the effects of standard on your own VSAC loan that is federal including:
- A ruined credit rating
- Positioning with a group agency
- Wage garnishment
- Confiscation of federal income tax refunds or state income tax refunds, property income tax corrections, and/or tenant rebates through the Vermont Setoff commercial collection agency Program to fund your defaulted loan(s); or
- Lack of federal pupil help eligibility
MANAGING FEDERAL EDUCATION LOAN DEFAULT