I could use help with a loan that is giving me problems
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Do you need help with your defaulted loan?
no I need more information on what I can do and such
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how do I work on paying my defaulted Perkins loan?
You will need to make a full monthly payment each month, within 20 days of the due date, for nine consecutive months. Your required monthly payment amount is determined by your loan holder.
where do I go for more info on this?
I can show you where to go for information about your Perkins Loan
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what about Direct Consolidation loans, can we choose our repayment plan on those?
Yes, if you make three voluntary, on-time, full monthly payments before consolidating, you can choose from any of the repayment plans available to Direct Consolidation Loan borrowers.
can we get more help since COVID-19 is affecting so many people and our finances?
Yes, the U.S. Department of Education has stopped collection activity on defaulted federally owned student loans and/or grant overpayments. Interest is temporarily set at 0% on defaulted federally owned student aid debt. This 0% interest and stopped collections period will last from March 13, 2020, through Sept. 30, 2020.
