Am I eligible for financial aid if I have defaulted on a student loan?

Students who are in default on a student loan received from any postsecondary institution will not be considered for federal financial aid until the default is cleared.

To clear a defaulted loan, please contact the institution who the default is with. For Federal Direct Loans, review the following website for steps to address a defaulted student loan

Once the default is cleared, submit a copy of a letter from who the defaul was with, stating you are no longer in default with them. The lender must also revise your default status with the National Student Loan Database, which may take a few days before it is cleared on the system.

Created: Jul 21, 2006 - 4:7am Updated: Oct 26, 2011 - 7:11am Author: Web Technologies Article: 1472
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