Tag: Federal Loans
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After How Many Days of Missed Payments Will Federal Loans Default?
Federal loans default after 270 days of missed payments, leading to severe consequences such as immediate due of unpaid balance, legal action and loss of eligibility for future aid. To avoid default, borrowers need to contact their loan servicer proactively, possibly adapting the repayment plan or applying for forbearance or deferment. Even after defaulting, loan…