student loan help, student loan remedies
877-484-CSLR (2757)    
student loan help, student loan remedies
student loan help, student loan remedies
Compass Student Loan Remedies, student loan help
Let Compass chart a course to your student loan remedy  

Compass Student Loan Remedies


When you choose to further your education, you may file for financial aid to help pay for your educational courses. If you choose to take out student loans, you will sign a promissory note (or notes) to borrow money. As long as you maintain full time status as a student, are in a deferment or forbearance status, no payments will be due on your student loans.

Upon graduation, you will receive notice from your loan holder(s) informing you on when you will need to begin repaying your federal student loans. Generally speaking, the required repayment of your loans begins based upon the guidelines of the promissory note or upon completion of your education.

Depending on your financial situation after completion of your educational program, you may qualify for any of several of the programs the Department of Education offers. These programs are offered to assist those federally backed student loan holders who may be facing financial hardship. Some of the programs that are allowed for financial hardships are income sensitive loan repayment, extended repayment plans, or deferment. There may be other programs built into your loan or offered by the Department of Education - depending on the type of loan you hold.

If you are unable to begin repaying your student loans or at some point during your repayment you lose the ability to pay, you are considered delinquent on days one through 269 of not making your regular loan payment. At this point, you are still able to communicate with your loan holder, make an alternative payment arrangement and/or catch back up on your late loan payments. However, if you hit day 270 without making a loan payment or making some type of arrangement with your loan holder, your loan(s) are considered to be in default.

Unfortunately, when day 270 arrives without any payments or communication to your loan holder, you have lost your Title IV privileges. Your ability to negotiate with your original loan holder is also lost. It is highly probable your loan has been transferred to the collections department of your loan holder's agency or to an outside collection agency. Typically, your loan holder will also notify the Department of the Treasury (think IRS) to initiate the treasury-offset program. This means that any tax refunds you may expect to come your way in the future, will be redirected to repay your defaulted student loan.

The loan holder or collection agency will initiate collection efforts via mail and phone calls to attempt to collect on your student loans. Depending on your repayment history, the loan holder reserves the right to immediately request an administrative garnishment on any wages earned or other certain benefits you may receive.

Don't delay in dealing with your defaulted student loans. Get out from under the collections calls and letters. Contact Compass Student Loan Remedies and take back control over your student loans. Call 1-877-484-CSLR now.