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Avoid delinquency and default

En Español

Notify your loan holder immediately if you anticipate difficulty making a payment. Failure to pay all or part of a payment when due can result in late charges. Your loan holder also has the option, in some cases, to file a lawsuit against you for failure to make timely payments.

If you fail to make payments for 270 days, your loan is considered to be in default. Defaulting on your student loan can result in the serious consequences.

There are three basic guidelines to follow to avoid delinquency and default: