For more information on rehabilitating a defaulted Federal Perkins Loan, contact the owner of the loan.Once your loan is rehabilitated, the default status will be removed from your loan.

However, late payments reported before the loan defaulted will not be removed from your credit history. Top If you choose the first option (repaying under an income-driven plan), at the time you apply for the Direct Consolidation Loan you must select one of the available income-driven repayment plans and provide documentation of your income.

If you want to consolidate a defaulted the Income-Contingent Repayment Plan (ICR Plan).

Carefully consider whether loan consolidation is the best option for you.

Whom do I contact if I have questions about consolidation?

My Federal Student Aid will not include information about any private student loans you may have received.

You have several options for getting your loan out of default.

Each loan has its own interest rate, which be very draining for a “fresh-out-of-college” individual, which is why it is always good to consider the option of U. However, remember that federal loans can only be consolidated with their own kind; private loans cannot be consolidated with federal loans.

(s) you have or who owns your loan(s), you can get that information from My Federal Student Aid.

Be sure to compare your current monthly payments to what monthly payments would be if you consolidated your loans.