Default student loans are becoming more and more of a problem throughout the country with the number of defaulted student loans rising to all-time highs for virtually every segment of college graduates. Default student loans are often not thought of as that big a deal, but in reality default student loans can ruin the financial lives of their borrowers and over time even one defaulted student loan can reek havoc by destroying your credit and your chances of receiving some of the best interest rates for consumer loans. A student loan default may induce panic on your end but in reality there should be no need for such anguish because there are a multitude of things that you can do to prevent your student loans from ever going into default. Most of these things are fairly easy to do, and they can easily prevent a default on student loans when a default was almost thought to be inevitable. Default student loans are not fun to deal with, and by doing some of the following things you will be shielding yourself from such a default so lets begin.

So you're graduating college and you have an assortment of student loans that have to be paid back and you're probably filled with a bit of anxiety. You shouldn't worry though as the majority of student loans—federal or private, should automatically give you a six-month grace period in which you won't have to payback your loan at all. Only after that six months is up will you have to worry about paying back your student loans, so don't think that you have to start making payments right when you graduate.

Once that six-month grace period is up you then have to begin to make payments on your student loan or you do risk your loans falling into default. If you know that you are going to have difficulty paying back your student loans at that time then you may want to exercise any deferment or forbearance options that you may have available with each of your loans. Deferments and forbearances can push back the date when you have to begin making payments much like the six-month grace period did right when you graduated school. You must apply or request a deferment or forbearance from your lender and you may have to provide a reason such as unemployment, financial hardship, or a specific kind of personal issue. Regardless of the reason, once you are approved for your deferment or forbearance you can push back having to pay your student loans by what are normally six-month intervals. With a forbearance the interest that may have accrued during your forbearance period is capitalized on top of your loan's principal so it is recommended that you exhaust your deferment options before you exercise your forbearance options to save money.

Another great option that can prevent a student loan default involves taking out a refinance loan that can payoff all of your current student loans and leave you with only that refinance loan to payback. This can give you the added convenience of only having to make one single payment each month instead of multiple payments, and it can also save you money if you can secure a low interest rate. If you don't want take out a student refinance loan then you may want to ask your lender about any sort of repayment options that they may offer that can lower your monthly payments or adjust the exact repayment schedule you were initially given. These types of options are typically contingent on you experiencing some kind of hardship—either with your finances or with your job or income, or they are made in accordance with the kind of options that the lender may provide its borrowers such as interest-only payments. Don't hesitate to contact your lender about some of these sorts of repayment options and by doing so you will hopefully be preventing your loans from becoming defaulted student loans.

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