Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

what does that mean when they ask if you are currently in default of any student loan?

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?

10 Answers

Relevance
  • 1 decade ago
    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.

  • 1 decade ago

    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/

  • 1 decade ago

    No. To be in default you would have to be at least 60 days behind in payments on a student loan.

  • 5 years ago

    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.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    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!

    Source(s): Been to a community college.
  • 1 decade ago

    Default means you are late on a scheduled payment. You seem ok

  • No. The question is asking if you have missed payments on such a loan.

  • 1 decade ago

    ur not currently in any Defalut loans.

  • Anonymous
    1 decade ago

    You aren't in default. You are only in default if you are not making payments that are due.

  • 1 decade ago

    It means you're behind in payments.

Still have questions? Get your answers by asking now.