Defaults / Delinquencies are reported to credit agencies and to the National Student Loan Clearinghouse. Defaults / delinquencies on student loans can cause a variety of problems for you, such as:
- holds on your registration, reentry, transcripts at the school where you received the loan
- ineligibility for future aid at any school
- problems when you apply for any kind of loan or credit
- problems related to job applications
Not completing the required exit interviews for each loan program when you drop below 6 credits or graduate can also cause
- holds on your registration, reentry, transcripts at the school where you received the loan
Be sure you understand your rights and responsibilities under any loan program you use. CAUTION: Remember that you are responsible for meeting all obligations related to your loans -- whether or not you receive reminder notices.
If you are having difficulty making repayments, contact your lenders immediately for options available. Not all options are still available after your loans go into default status.
Details about all the provisions for Queens College student loans are on the Direct Loan and Perkins Loan web pages on our web site.
