What is the future of guarantee agencies like American Student Assistance if SAFRA passes as presently written?
Actually, there are three. Six consecutive student loan payments will restore eligibility for further non-loan student financial aid like Pell grants and Work-Study. After nine satisfactory payments, a defaulted borrower’s bad credit rating can be expunged. And FFEL borrowers can consolidate most defaulted loans into Direct Lending, make satisfactory repayment arrangements, and be removed from ‘default’ in the government’s eyes.
Related Questions
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- What is the future of guarantee agencies like American Student Assistance if SAFRA passes as presently written?
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