What is student loan rehabilitation?
An example of an AI chatbot conversation about student loan rehabilitation options.
What is student loan rehabilitation?
Student loan rehabilitation is a process that helps borrowers who have defaulted on their federal student loans to regain good standing.
How does the rehabilitation process work?
The process typically involves making a series of on-time payments, usually nine payments within ten months, to bring your loan out of default.
What are the benefits of rehabilitating my loans?
Rehabilitating your loans can remove the default status from your credit report and make you eligible for additional federal student aid.
Are there any drawbacks to this process?
Yes, one drawback is that you may have to pay a higher amount than your original monthly payment during the rehabilitation period.
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