Options for defaulted federal student loans

If you got behind on your student loan payments and are now in default, don't give up hope; you CAN get back on track!

You have several choices for repaying a defaulted student loan:

Repay your loan in full with a lump-sum payment.
If you can't pay your loan in full with a single payment, establish satisfactory repayment arrangements:

Reinstate your loan and eligibility for federal student financial aid if you are returning to school and need additional help paying for educational costs.
Rehabilitate your loan, removing it from default status and restoring your eligibility for deferments, forbearances, alternative repayment plans, and federal student financial aid.
Consolidate your defaulted loans to extend your repayment period and reduce your monthly payment.

Talk with your loan holder to decide what's best for you.