Defaulted Student Loans?

Answers:0   |   LastUpdateAt:2012-11-03 22:35:21  

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Jenni
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I am receiving unemployment benefits, and owe over $80,000 in federal student loans and private student loans which are now defaulted. I hear there is a "Rehabilitation Program" for federal student loans, which allows people to make minimum payments on the loans. Once payments are consistent for one year, the "Default" status is removed from their credit report. My concern is that I can only afford to pay about $25 a month to start repaying these loans. Will Sallie Mae be cooperative and understanding on my financial status? And what about private student loans ... do these loans fall into the same category as "rehabilitation program"?
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