The Fresh Start Program for Federal Student Loan Default

Having a federal student loan default is one of the worst things that can happen to your finances.

Fortunately, a TEMPORARY program will help defaulted borrowers restore their loans to good order with as little as a phone call. Check out this episode to see how

EPISODE RESOURCES

Fresh Start Program Details

[bignaf]

I was irresponsible and let my loans go into default. This gives me a chance to get things back right. That was/is easily the biggest financial mistake of my life: I wish I knew how serious it was years ago

[katelynneodom]

I just started the Fresh Start program. What they don't mention is that the program allows you to pay back the Department of Education only. If you have loans that are still held with the school itself be sure to call the school and speak with Accounts receivable to settle a payment plan as well or else you will still receive offset letters claiming your tax refund.

[TerranLikeKaren]

Thank you for this info my friend! I found you right after I made the phone call which was easy to do! There was a time when I was so scared to call in to the representatives and discuss these loans in fear that I wouldn't understand the process, have to remember my current income/job situation, fear of being judged, & just being down right lazy. This caused inaction on my part for over 8 years now. We have a tendency to be fearful of taking action on the very thing that will exalt us to our highest calling. Have you ever had a time where you sat back in fear and once you took action you said, "that was easy!"? Well ladies and gents, I just had that experience and feel a massive weight lifted from my shoulders, clarity on my vision, & motivation to see this through! Call in for your Fresh Start!

[fawnmiller]

Hello and thank you for all the great information you provide, I do have a question though can you tell us more about the rehabilitation program with the federal government I know it is similar to the fresh start program but that will be fazing out soon and I don’t know exactly how the rehabilitation process works.

[fakechow]

When you take the initiative to improve your life doors begin to open. Thank you so much for this video!!

[trendynow]

Just called and completed the initial process. Thank you for the clear and concise video

[hygiverse]

I've been defaulted for 12 years...I tried disputing a few times I even stated law codes that they were violating by keeping my loans on my report....not only did they not change it, but they changed them to ACTIVE 😢

[NC-tgml]

wish we had been taught about student loans in high school before college loans, especially those technical schools where they really get after graduation, I couldn't keep up with my payments, and struggling as a single parent really put me behind. now thankfully I can finally try to get this off my back slowly and steadily and try to build up my credit again.

[tincou]

If the loans have already fallen off my credit report — what would be the change in my report if I do fresh start?

[darrincook]

What happens after the Fresh Start Programs end? Does my loans goes back into default status … while I’m using fasfa?

[johnwork]

Does this remove collection fees that have been included in your balance?

[benbridges]

Friend, you just saved my ass. This was so concise and straight to the point, incredibly helpful, thank you so much!

[PDXenvy]

My transunion is still showing all of my late payments for my student loans. Experian and equifax have them off the record completely and current. Is that something I should expect to fall of of transunion or am I going to have to dispute that?

[lisagrace]

hi i want to do fresh start but my original loan was 26000 i was making payments got laid off made partial payments they consider that delinquent so therefore default interest added so as of today my loan is 109000 dollars will they do anything with the interest because if not its just not worth it i make 20.00 an hour i want to pay but i will never pay that off ever

[SpiritCaliber]

My original loans defaulted in 2016 and were switched to a new servicer in 2019. I called to use the fresh start program. They said that loans older than 7 years will not be reported. Is that good or bad payments? Are they set to fall off soon or has the switch impacted that?

[thirdeyereptiles]

My student loans are in default since 2019 & I’m attempting to get Fafsa back to attend college. My student loan payment history somehow says I have 70 missed payments (35) for each loan… how is this possible if the account is closed? And how do I get these late payments off of my credit report once I’ve handled my debt?

[Stanley]

How long does it takes to get off your credit to active?