Managing Debt and Avoiding Default
SLGFA's Default Prevention Department works with
borrowers,
schools, and
lenders and servicers in an attempt to avert defaults.
Borrowers
As a borrower under the Federal Family Education Loan
Program (FFELP), it is up to you to accept the responsibility of repaying your
student loans.
SLGFA is here to help you understand what a default is and the
consequences it can have as well as how to help you avoid your loan being
delinquent or declared default.
Don't be overwhelmed by debt. Start planning
now by using the Loan
Repayment Calculator or taking advantage of any of the
calculators available. View
some tips to
manage your student loan and avoid default
take a look at SLGFA's
Debt
Management brochure as well as its
Financial
Literacy page.
However, if you are unable to make payments right now, you may have other
options to bring your account up-to-date:
If you need help with a delinquent
account, view our FAQ or contact
Dana at 800-622-3446, ext. 655.
Schools, Lenders, and Servicers
As a client and partner, SLGFA's Default Prevention Department provides
assistance by making phone calls, communicating via e-mail and fax, and sending
letters to borrowers, co-signers, and references in an attempt to resolve the
delinquent account.
In order to prevent defaults, SLGFA offers a
number of default prevention initiatives to
assist borrowers in understanding and managing their student loans.