Thu. May 26th, 2022

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Everything You Need To Know About Student Loan Default

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By Rubin

52 thoughts on “Student Loan Default – Everything You Need To Know About It”
  1. Curious to know – say you went to register for your school and they had in state and out of state prices, doesn’t that spur you to find out what the requirements are for in state when it is so much less than out of state? You mention in the video someone should have told you, but isn’t that your own responsibility to find out? Especially with the internet at your fingertips? Wondering how we can educate young people into taking the initiative into finding out this information on their own. Great video. Thanks!!

    1. Absolutely! But unfortunately, I wasn’t the same person that I am now. When I was registering for college I didn’t have any parents or family members to walk me through the process, they just said: “this is what you need to do, sign here”. The school obviously wanted the most amount of money from me as possible so they didn’t explain instate vs out of state tuition to me. I didn’t know it was a thing until after I graduated. That is why I made this channel, to share my journey and hopefully help someone to not make the same mistakes I did. 🙂

  2. That’s interesting that no one ever told you about in state vs. out of state tuition. I went to college over 30 years ago and that was a big topic of conversation amongst my peers. I suppose it could depend on your high school. Most of the students in my high school didn’t go straight to college though.

    1. Neither of my parents were able to help me register for college or help me with that process since my mom had passed away. I’m from a really rural area and almost everyone else in my grade went to a local college so it wasn’t discussed among my peers.

    2. My parents didn’t help me register either. Mainly lack of education. I didn’t qualify for financial aid especially since I stayed local. It’s a shame that you didn’t get any information from high school counselors. That’s where we got most of our college information from and then it just trickled down. We also had programs starting in junior high/middle school that got us starting to think about college. I got lucky because when I went the University of California system was very affordable. I worked full time because I liked having money but could have afforded it on part time pay. I only took out one $2000 loan my last year when I stopped working and paid that off in less than 2 years. If I had to do it over I probably would have gone to community college first then transferred. Unfortunately high school did not prepare me well enough and working full time did not do wonders for my GPA. Community college in my area (San Diego) was a great deal then and still is.

    3. Thats so interesting to hear!! Awesome job paying it off in your first two years out of college!! 🙂

  3. This is a great video. My college loan was only $55.00 a month.

  4. 📚 I was so surprised that my students loans were actually 4 separate payments when I finished college. The payment was almost $400 per month! I consolidated (which you can only do one time in your life) and I got my payment down to $140 per month. It is now my last debt.

  5. I want to know a way to be able to discharge them in bankruptcy or through TPD, not how to pay them

  6. If your Perkins loan is in default but they haven’t put in a request to take your tax refund can they still take your tax refund even if you started the rehabilitation process?

    1. Kirnesha Davis go contact your loan servicer and figure out how the program works about how to get it out of default

    1. Emily Grace go contact your loan servicer for more info about how to go about getting your loans out of default

  7. I’m going to try to trade my associates degree to them and call it even. I’m not even working in the field I studied in anyway.

  8. Lovely Video! Sorry for chiming in, I would appreciate your thoughts. Have you tried – Bonincoln Wordless Authority (erm, check it on google should be there)? It is a good one off guide for getting finance for your business without the normal expense. Ive heard some pretty good things about it and my cousin finally got amazing results with it.

  9. How come the federal government is handing our student loans over to collection agencies that want to make more money for themselves and use tactics like suspending drivers licenses?

  10. I got my business loan of $650k from Fast-credit Fianance and i am so grateful, their they best and 100% legit

    1. Thank you so much Fast-credit Fianance for everything I would always continue to show gratitude for how you changed my life.

  11. defaulting was the best decision I ever made. I’ve rebuilt my credit and am now purchasing my first home in france. Never repaid my bank loans either. It has been a wonderful decision to leave America. God Bless America. Hope you guys can pull through these difficult times. <3

  12. The Federal loans were nice on the phone, but the bankers for my private student loans were always awful and cruel to me. When I lived in America , the Federal loans had my wages garnished , about 10% from each paycheck and I didn’t get my tax refund (which wasn’t a big deal because my refund was only $500)  When I left America it was a huge relief and I work  in my field now. France is a very sweet and romantic atmosphere, it’s almost magical. I love it here and I will never return to America. <3

  13. So is there an 800 number or an actual number I can call to initially get this bawl rolling and thank you by the way for the video

  14. I just wish I could file my taxes and just pulled towards the student loans who knows if I can find a place that is tax free this would have been so easier I know that’s not how it works

  15. “they were so nice”.. yeah how nice of them after scamming you into a debt trap. super cool nice people

  16. Hi Kelly! Thank you for the video. So much help! Question, does turning a student loan (defaulted) into a consolidation loan erase “default” from credit history?

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