i'm transferring to a nursing college and they sent me these application form i need to turn back in. one of the questions was 'Are you currently in defalut of any student loans?"
i'm in a community college right now and i have half of my semester' tuition in subsidized loan and i'm paying the rest of it. Then after this semester, i'll pay the loan i barrowed.
So am i in default or not?
Duffles
Favorite Answer
default means that you haven't paid it. like if you miss a certain number of payments in a row you default. if you don't have to make payments, or you are up to date, you're fine.
togood2bebad4u
To my knowledge you should not be, but check the terms of your loan to be sure. Subsidized loans are like credit card offers of no interest for 6mths, 1yr, etc. Most students don't start paying until after they've finished school. After you finish school they will usual give you a 6mths grace period to pay off your loan interest free. This is when the clock usual starts ticking on your loan. If you don't start making payments after you've graduated then you go into default. As long as your in school you can hold out on that bill.
Stanford has a website were you can get information about their loans if that is the type you have.
http://www.staffordloan.com/
Kathi S
No. To be in default you would have to be at least 60 days behind in payments on a student loan.
?
It means that you had a previous student loan and have failed to pay it back, or you received federal grant money for which you were not entitled and have not paid it back. If you've never had a student loan, or not had excess grant funds (trust me, you'd have been notified about these ones) you can safely answer no.
SpikeyMike
No. A default loan is when you have not paid the money by the due date (like a bill) usually this is 30,60,90 days deliquency. You can always ask your academic advisor...one should be assigned to you. Best of Luck!