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You might have defaulted on your own VSAC student loan, but don’t panic!

You might have defaulted on your own VSAC student loan, but don’t panic!

VSAC will be here to help you which help you to definitely produce a fresh begin. Make a strategy now to get rid of the consequences of standard.

You borrowed if you have a federal or private student loan in default with VSAC, click the tabs below for information based on the type of loan.

You’ve got choices to get free from education loan standard. The essential important things you may do is make use of VSAC now. We’re right here to simply help!

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CONSEQUENCES OF FEDERAL EDUCATION LOAN DEFAULT

You could have a defaulted federal household training Loan (FFEL) Program loan with VSAC. VSAC loans that are federal FFEL Stafford, FFEL PLUS loans, and FFEL Consolidation Loans.

By simply making a strategy now, you are able to end the results of standard on the VSAC loan that is federal including:

  • A ruined credit rating
  • Positioning with a group agency
  • Wage garnishment
  • Confiscation of federal taxation refunds or state taxation refunds, home taxation alterations, and/or tenant rebates through the Vermont Setoff commercial collection agency Program to cover your defaulted loan(s); or
  • Loss in federal pupil help eligibility

MANAGING FEDERAL EDUCATION LOAN DEFAULT