What to Do If Your Student Loans Are in Default

Sarae is joined by Carlos Colón, Bilingual Personal Finance Coach at mpowered, to discuss what to do if you have defaulted on your federal student loans and what options are available to you to get out of default.  We also cover:

• The difference between being delinquent and defaulting on your student loans.
• The effect on your credit of defaulting on your student loans.

You can find more information about federal student loan default on studentaid.ed.gov.

If you are not in default on your student loans, listen to our podcasts about income-based student loan repayment plan options and student loan repayment plan options not based on income.  More information about federal student loan repayment options can also be found at studentaid.ed.gov.