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Too late for Loan Rehabilitation?

Date: Sat, 03/01/2008 - 04:22

Submitted by cidister
on Sat, 03/01/2008 - 04:22

Posts: 11 Credits: [Donate]

Total Replies: 4

Too late for Loan Rehabilitation?


Hello all,

I'm so glad I've found this site. I'm having some confusions/questions and hoping someone can give me some guidance.

I have to admit that I'm in bad student loan debt. I've followed the links on Student Loan basics and found all of my student loan debts, my question are:

1. I've been paying on 1 of my student loans for more than 9 months consecutively on time. I didn't know about loan rehabilitation when I started paying and never mentioned it to my lender (Citi). Is it too late to ask them for loan rehabilitation now? If I want to rehab Citi loan, what should I do?

2. I have 4 other student loans that are in defaulted status below. This is what I see on nslds.ed.gov. I want to start paying for these loans. What should I first? Should I consolidate them first then ask for the rehabilitation program? Who should I contact regarding these loans?

DIRECT STAFFORD SUBSIDIZED Defaulted $5,500
DIRECT STAFFORD SUBSIDIZED Defaulted $3,666
FEDERAL PERKINS Defaulted $4,000
STAFFORD SUBSIDIZED Defaulted $1,545

Thanks so much for your time. Please help if you can.


If you are paying Citi directly on that one loan, then it is not in default and canot rehab.

On the 4 loans in default.NSLDS should list the loan guarantors...you need to call them. Depending on how long you have been in default on the Perkins, try the school you borrowed it from. If it has been less than 7 years since the default, they should still have it and can set up up on rehab.

You cannot consolidate first and then rehab. You must rehab, and then consolidate.


lrhall41

Submitted by SOAPLADY on Sat, 03/01/2008 - 07:35

( Posts: 17315 | Credits: )


Hello SoapLady,

Thanks so much for the provided info. I guess there's nothing I can do about the student loan from Citi now. Is there any way I can fix my credit report regarding this account ie, remove it from the adverse account section?

As for my 4 other loans, I will attempt to contact the schools where I borrowed them from Mon. Thanks so much again!


lrhall41

Submitted by anonymous on Sat, 03/01/2008 - 16:16

( Posts: 202330 | Credits: )


Thanks for your guidance SoapLady! I'm now on progress paying my student loan. I've contacted my lender and was given the correct contact agencies regarding my loan. I'm now on the rehab program! Just wanted to say thanks!


lrhall41

Submitted by cidister on Mon, 03/17/2008 - 16:26

( Posts: 11 | Credits: )