Re: student loans

Posted by J (209.145.133.228) on June 17, 2002 at 10:56:01:

In Reply to: Re: student loans posted by joanne on June 15, 2002 at 11:32:32:

CAs CANNOT refuse a rehab no matter how little you can afford or what stage in default your loans are in. Call the original guarantor of the loan, or the department of ED (if it is a direct loan). Use this language: "I want to establish a reasonable and affordable payment to rehabilitate my student loan." They will tell you to call the CA, probably. But that is how you will get the best information. If it is direct, ask for Mr. Hill. He is the best at explaining what you need to do. Otherwise, your guarantor will have a liason who oversees the CA and their actions, ask the person who you should call if the CA tries to set the amount above what you can pay.

The Higher Education Act gives any student the right to a reasonable and affordable amount to get their loans out of rehab.

Check out Robin Leonard's book "Take Control of your Student Loans" Nolo press. It is out of print, but I found a copy at the Public Library. Their are some newer things happening since the book was written--1997; however, it is good information.

I'm going through garnishment, & rehab simultaneously. Do not let it go to garnishment! Be a little proactive and it will pay off!!

I'm just finishing up with rehab. Let me tell you that it is worth it!!!

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