Student Loan Rehab Requirements

[Anonymous]

Hi All,

In the past years, I've been very messy with my financials and am working very hard to clean it all up.  My student loans are currently defaulted using - https://www.nslds.ed.gov

The summary of the loan shows that it was in repayment, then defaulted, then repayment again, and then defaulted.  The repayment was standard repayment and not during any rehab.  

So I am wondering if I am still eligible for loan rehab?  I plan to call the company but I figured I would ask on this forum first.

EDIT:  My apologies.  I should have posted this in the Studen Loan thread.  Mods, please delete or move this to the right location if necessary.

[RobertEG]

Any rehabilitation after August 14, 2008 is limited to only one rehab per loan.

See 34 CFR 682.405(a)(4).

[Anonymous]

Thank you for providing that information.  I see it additionally states:

"...if the loan returns to default status following the rehabilitation."

Is it safe to assume that I should be able to rehab my loans since the initial repayments were standard and not rehab related?

[Anonymous]

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@Anonymous wrote:

Thank you for providing that information.  I see it additionally states:

"...if the loan returns to default status following the rehabilitation."

Is it safe to assume that I should be able to rehab my loans since the initial repayments were standard and not rehab related?

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If you brought your loans current by any means OTHER than a 9-payment IBR rehability plan, then you are eligible for rehab. You need to contact the guarantee agency, which would be listed in the NSLDS under the loans that are currently in default. If they are guaranteed by multiple agencies, you need to contact them all seperately. 

[Anonymous]

I rehabbed mine with the 9 payments. The first time I did it, I missed my 7th payment without realizing. They allowed me to do it again but I had to start all over from payment 1. Mine are rehabbed now and consolidated. It boosted my credit about 40 points when I did that.