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Loan Default

Loan Default Resources
Consequences of Default
Administrative Review
Consolidate Defaulted Loans
Reasonable and Affordable Repayment
Loan Rehabilitation
Renewed Eligibility for Financial Aid (REFA)
Renewed Eligibility for Title IV Aid (RETA)
Frequently Asked Questions - Defaulted FFEL Loans
A student loan is defaulted when you fail to make your scheduled monthly payments or make special arrangements with your lender to suspend payments. Defaulting has serious consequences:

Avoiding Default

Fortunately, default can be avoided. Strategies include:

If you have problems making your monthly loan payments, don't panic. There are several options to help you avoid defaulting on your student loan, including deferments, forbearances and loan consolidation. But you must act, before the loan defaults. Contact HESC's Delinquency Resolution Team at 1-800-888-0741 or defaultprevention@hesc.ny.gov.