How to Get Your Student Loans Out of Default

by Lynnette Khalfani-Cox, The Money Coach on March 17, 2010

in Student Loans

Q: I Have Student Loans of $66,000, Including $20 in Penalties, Fees and Interest. My Salary is $1,500 a Month. My Required Student Loan Payments are is $415 a Month. I Want to Get Them out of Default. Any Advice?

A: I know those student loans seem overwhelming right now, especially given your modest salary. But there are some steps you can take to improve your situation.

Start by going through the process of rehabilitating your student loans to clear up your student loan default. Read this article which explains everything you need to know about fixing defaulted student loans.

Also read this post about smart ways to pay off student loans.

Both of these items will give you great ideas about how to best tackle that student loan debt.

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Lynnette Khalfani-Cox, The Money Coach

Personal Finance Expert and Co-Founder at Ask The Money
Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print.

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