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Disaster Recovery

Total Posts: 1

Joined 2017-03-26

PM

 

After finishing my incredibly expensive undergrad I had a series of massively inconvenient situations that resulted in several years of unemployment. My private loans have been barely maintained, since there was a consigner I had to protect, but I haven’t beeen able to pay a dime to my federal loans in the 5 years since graduating. They’ve all been tanked into whatever oblivion of charge-offs or default or whatever status they go into. My question is this: if I now pay them all in entirety (which I’ll be able to do over the next couple years - interest, penalties and all) will I be eligible again to borrow more federal loans for medical school, which was the long-term plan in the first place? I’m obviously going to do this anyway, but I’d like to know whether or not I’ve destroyed my borrowing eligibility permanently. This is specific to Federal Loans only.

Thanks.