http://loancolleges.com/what-loan-company-will-take-over-my-federal-student-loans-when-the-loans-are-in-forbearance/ Private Student Loans, Federal Student Loans Fri, 30 Jul 2010 04:56:04 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://loancolleges.com/what-loan-company-will-take-over-my-federal-student-loans-when-the-loans-are-in-forbearance/comment-page-1/#comment-52 Dat_1_Ch Tue, 24 Nov 2009 18:36:37 +0000 http://studentloanclub.net/what-loan-company-will-take-over-my-federal-student-loans-when-the-loans-are-in-forbearance/#comment-52 No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments. If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments. No one will “take over” your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.
If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can question your lender to “rehabilitate” your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.

]]>