5 replies to this topic

[EnC_Plus3]

I had student loan than originated in 1997 and through this problem and that problem I ultimately defaulted on the loan. In 2008 and 2009 our taxes were offset and left a balance on 2 of the 3 loans for $74 and $42. I was told at the time that I wasn't eligible to rehab the loans because I didn't owe enough. My option was to pay it off and have the default paid for 7 years on my report. Since Feb 09 I just didn't take care of it, which normally would be bad thing, but today I decided to call and take care of it. I figured that I'd have the paid default for the next 7 years but was also planning on asking about getting it removed. Before I got to that point in the phone call I asked if there was anyway I could do the rehab...and the answer was yes!

I'm rehabing for 9 months at $5.00 and then paying the balance on April 2nd, 2013...at which point the loan will go from being a default to being a positive paid student loan YAY!

I figured I'd add this in here for anyone else who thinks (or was told) that they didn't owe enough to rehab. The minimum payment they take is $5.00 and the minimum program time is 9 months, so as long as you owe $45.00 you should qualify.


I don't know how common this is, but finding this out today has been terrific, I hope this info helps someone else

[SloanHelper]

Just so everyone is aware you did not do a rehab program, you did and R&A, program.... Pretty much the same thing, but a liittle different. Just wanted to clarify

[EnC_Plus3]

With the R&A program will the default go away after I finish the 9 month program? I'm confused now because I was under the impression this was rehab. Should I call back to see what program I am enrolled in. My goal was to get rid of the default. I can pay the whole thing off which I'd rather do if it isn't going to go out of default with the program. Thanks for your help.

[SloanHelper]

With the R&A program will the default go away after I finish the 9 month program? I'm confused now because I was under the impression this was rehab. Should I call back to see what program I am enrolled in. My goal was to get rid of the default. I can pay the whole thing off which I'd rather do if it isn't going to go out of default with the program. Thanks for your help.

Yes, you are still getting out of default, it is essentially the same programs, just a few different twists, do not worry

[pleasehelpme2012]

Who were your loans through? Also how did you do this? I called Sallie Mae, and they told me they had no clue what I was talking about. I am 120 days late this time, and have had the loans put in forbearance a few times, leaving 190 plus days late on my CR

I had student loan than originated in 1997 and through this problem and that problem I ultimately defaulted on the loan. In 2008 and 2009 our taxes were offset and left a balance on 2 of the 3 loans for $74 and $42. I was told at the time that I wasn't eligible to rehab the loans because I didn't owe enough. My option was to pay it off and have the default paid for 7 years on my report. Since Feb 09 I just didn't take care of it, which normally would be bad thing, but today I decided to call and take care of it. I figured that I'd have the paid default for the next 7 years but was also planning on asking about getting it removed. Before I got to that point in the phone call I asked if there was anyway I could do the rehab...and the answer was yes!

I'm rehabing for 9 months at $5.00 and then paying the balance on April 2nd, 2013...at which point the loan will go from being a default to being a positive paid student loan YAY!

I figured I'd add this in here for anyone else who thinks (or was told) that they didn't owe enough to rehab. The minimum payment they take is $5.00 and the minimum program time is 9 months, so as long as you owe $45.00 you should qualify.


I don't know how common this is, but finding this out today has been terrific, I hope this info helps someone else

[EnC_Plus3]

My loans were with Direct Loans. Here's a link to the website, if you call their toll free number I believe they can look up your account and give you options.

http://www.direct.ed.gov/