Defaulted student loans recovering consolidating
You can apply for an FSA ID at any time, but in some cases, you’ll need to wait up to three days before you’re able to use your FSA ID, so we recommend registering early.
If you don't have one by the time you fill out your FAFSA form, you will be prompted to apply for one.
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Unfortunately, in order to be eligible for Public Service Loan Forgiveness on your Federal Direct student loans, you have to be enrolled in an eligible repayment plan and consistently making on-time payments.
Typically, consolidation is the best option of getting out of default quickly, as you’re able to move directly into an Income-Driven Repayment plan and can immediately start building credit towards Public Service Loan Forgiveness if you’re eligible.
If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!
If you don’t think you meet the requirements, don’t worry – as you can apply with a cosigner to increase your chances of getting approved for a better student loan.