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What happens if I default on a federal student loan?

  • Listed: August 12, 2022 4:19 pm
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What happens if I default on a federal student loan?

If your loan holder is unable to obtain payment from you for 270 days, they will take steps to place the loan in default and attempt to collect on the loan.

The CFPB’s Debt Collection Rule clarifying certain provisions of the Fair Debt Collection Practices Act (FDCPA) became effective on November 30, 2021.

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