Wednesday, November 2, 2011
Can one qualify for grants if in loan default?
Since your friend has a BA degree that makes him ineligible for the majority of grants available to college students. Most grants are only available to students working on their first bachelor's degree. And, since he's in default, that also makes him ineligible for the low interest government loan program. He needs to contact his guarantee agency and get his loan back in good standing so that he can regain his eligibility. If he doesn't know who his guarantee agency is he can locate this information at a href="http://www.nslds.ed.gov/." rel="nofollow"http://www.nslds.ed.gov/./a He will need his federal PIN to access this site...that can be obtained at a href="http://www.pin.ed.gov/." rel="nofollow"http://www.pin.ed.gov/./a As for private educational loans, if he's in default and has bad credit, he either won't get approved by a lender or his fees and interest rate will be so high it won't make it worth while.
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