What is Default?

What is Default?

Failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days.

Topic Information
  • Topic #: 16092-964
  • Date Created: 06/27/2013
  • Last Modified Since: 06/27/2013
  • Viewed: 323
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