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Just checking. If I have defaulted student loans, there is no way I can get financial aid to go back to school, right?

I'm paying the minimum amount and letting them take my upcoming tax refunds to pay off the student loans. But it'll be years before I pay them all off. In the mean time, if I wanted to continue my education, I'd have to pay cash, right?

Answer Question

Asked by Anonymous at 10:14 AM on Jul. 5, 2011 in Money & Work

Answers (6)
  • that is a loan you could never claim on bankruptcy. You have that for dear life . GL and hope it works out...

    Answer by geminilove7717 at 10:15 AM on Jul. 5, 2011

  • If you have cash, why not use that to pay off your loans before even considering spending more?

    Answer by Candi1024 at 10:16 AM on Jul. 5, 2011

  • Call and ask.

    Answer by pookiekins34 at 10:17 AM on Jul. 5, 2011

  • There is a company that will buy your defaulted loans so that you can go back to school. I am not sure of the name of the company or how much interest they charge.

    Answer by JeremysMom at 10:21 AM on Jul. 5, 2011

  • I'm surprised they didn't put you in the Student Loan Rehab program... call and ask about that. It takes one year to get your loan back in good standing they they sell it off and your out of default. Then you can refi the loan thru someone else for a lower rate!!


    Answer by Crafty26 at 10:27 AM on Jul. 5, 2011

  • depends on how far apart your schooling is,, sometimes they will carry over so you don't have to pay it off to go back to school.. if it's one school to the next.. however if it's been a few years I'm not sure.

    Answer by xxhazeldovexx at 10:58 AM on Jul. 5, 2011

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