Managing Debt and Avoiding Default

SLGFA's Default Prevention Department works with borrowers, schools, and lenders and servicers in an attempt to avert defaults.

Borrowers
As a federal student loan borrower, it is up to you to accept the responsibility of repaying your student loans.

SLGFA is here to help you understand what a default is and the consequences it can have as well as how to help you avoid your loan being delinquent or declared default.

Don't be overwhelmed by debt. Start planning now by using the Loan Repayment Calculator or taking advantage of any of the calculators available. View some tips to manage your student loan and avoid default take a look at SLGFA's Debt Management brochure.

However, if you are unable to make payments right now, you may have other options to bring your account up-to-date:

• Modified Repayment Plan
• Deferment or Forbearance
• Loan Consolidation

If you need help with a delinquent account, view our FAQ or contact DANA* at 800-622-3446, ext. 655.

Schools, Lenders, and Servicers
SLGFA's Default Prevention Department provides assistance by making phone calls, communicating via e-mail and fax, and sending letters to borrowers, co-signers, and references in an attempt to resolve the delinquent account.

In order to prevent defaults, SLGFA offers a number of default prevention initiatives to assist borrowers in understanding and managing their student loans.