Defaulted Student Loans and help to pay it off to go back to school?

You can consolidate them now through direct loans. consolidating does not take away your deferment rights. consolidation can take away someone s 6 month grace period (the 6 months from when you left school before you started getting billed) ths does not pertain to you since you aready started repaymnt. call direct loans for more info 1-800-848-0979

No, a defaulted loan tracks you throughout the nation, so you can’t escape it, but you also don’t have to pay it all back before you can get more aid. Call your lender and set up some sort of payment plan. If you pay for 6 consecutive months, the default hold will be removed and you may be able to receive future aid.

ALSO, once you become at least a half-time student (6 hrs per semester), you can defer your loan payments, so don’t feel like you have to keep paying on your loan while you’re back in school. Just get rehabilitated (that’s what they call it) to the point where you can get more aid, enroll in at least half time, then defer your loans like any other student. Good luck!

PS: DON’T CONSOLIDATE YET! Some companies won’t let you defer loan payments, even if you are in school, so read the fine print!

well sort of, but it isn’t going to be good for your long term credit health.

There are student loans that will consolidate all your defaulted loans and any new amount you need into one new loan and loan payment with a rather ridiculous rate and payment schedule, because of your bad credit.

You will need to work on paying them their monthly note and improving your credit to roll this loan into something better a year or two down the road. Because of the cruddy interest rate and such you will not want to keep this loan much longer than that.

Good Luck!

Until you get those defaulted loans back in good standing you are out of luck. You won’t qualify for any aid through the FAFSA process, and private loans will either be denied or the interest rate and fees will be astronomical. Your best bet…get a full-time job and make those 6-month payments. Then go back to school and your loans will qualify to be deferred.

Suck it up, get a job or two and work very hard to get loans out of default. Once loans are out of default, consolidate them. Then start thinking about finding additional assistance. You’ve got to show some effort and a plan to receive help. Right now you look like a liability.

No. If you want to go to school when you have a loan in default you have to pay out of pocket.

Go to direct loans(the federal government), I believe they are the only ones who could consolidate defaulted loans, when you consolidate you will get three years of deferment and three years of forbearance, as long as you take 6 credit hours or more your qualified. Or contact your lenders it will only take 9-12 months of on-time payments to get yourself out of default.

Depnding on your situation, yes :

http://index-go.com/government-grants-income-finance.asp