You can know if you have defaulted on your student loans by checking the following key points:
- Federal Student Loans Default Timeline : You are considered in default if you have not made any payments for 270 days (about nine months) without an approved deferment or forbearance
. For Perkins loans, default can happen immediately after missing a payment
- Private Student Loans Default Timeline : Private loans typically default after about 90 to 120 days of missed payments, though this can vary by lender
- Signs of Default :
- Your loan servicer or lender contacts you with notices or calls about missed payments and default status
* Your loan status is listed as “in default,” “in collections,” or “assigned to ED” (Education Department) on official portals or credit reports
* You start receiving calls or letters from debt collectors
- How to Check Your Default Status :
- Log in to your federal student loan account at StudentAid.gov using your FSA ID to see if any loans are in default and to find your loan servicer details
* Check your credit report (free weekly reports are available at AnnualCreditReport.com) to see if any student loans are reported as defaulted or in collections
* For federal loans, you can also contact the Default Resolution Group at 1-800-621-3115 for confirmation and assistance
- Additional Indicators :
- If your wages are being garnished or your tax refunds and Social Security payments are being withheld, this is a strong indicator your federal student loan is in default
In summary, if you have missed payments for about nine months on federal loans or about three months on private loans, and you see your loan marked as “in default” on StudentAid.gov or your credit report, or you are contacted by collection agencies, you have likely defaulted on your student loans
