I have a private student loan in default. Can I still get federal aid?
I have a private loan in the amount of $4,000 in default. It was a student loan that I wasn’t able to pay on while unemployed. I didn’t know about the economic hardship rules. Anyway, I know that I can get federal grants for certain because I was even able to get them when I had a federal student loan in default. Now that it’s out of default and paid in full, can I still get federal loans like a stafford loan? Or will I have to pay the private loan in full as well in order to get any financial aid?
as long as it is not a Stafford or a Perkins loan, you should be good. A private student loan through a private bank is just like a car loan, or mortgage loan. You will be able to get your regular federal loans, and grants.
