You go into default if you don’t make your loan payments.

You go into default if you don’t make your loan payments.

Imagine if I do not spend?

Standard is actually severe and that can have severe effects. It indicates you neglected to proceed with the terms of your Master Promissory Note, that will be the binding document that is legal finalized once you took away your loan.

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But when you have defaulted, do not panic – you can easily repair it!

So what can i really do to correct a loan that is defaulted?

Don’t get discouraged if you should be in standard in your education loan. There are methods to have out of standard! Continue reading “You go into default if you don’t make your loan payments.”