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  1. #1

    Default Is It Legal Have to Buy into Your School Loan After Default

    My question involves education law in the State of: California

    I was told that I had to buy back into my School Loans in a tune of 10k+ in order to reestablish a payment plan. Is this legal?

  2. #2
    Join Date
    Sep 2005
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    Default Re: Is It Legal Have to Buy into Your School Loan After Default

    You mean they want you to pay part or all of the past due balance? No, it's not illegal for your creditor to require that you pay some or all of your accrued overdue payments, interest and penalty before reinstating a loan.

  3. #3
    Join Date
    Jun 2011
    Posts
    7

    Default Re: Is It Legal Have to Buy into Your School Loan After Default

    Yes, you can't think that way as it is not considered to be an illegal activity. Mostly, the increasing academic expenses pushing each student to take student or any private party loans. At this special situation, it is needed to maintain a clear plan for your college expenses by knowing well about your income sources. First of all,list out your income and expenses and follow according to maintain your money among the items.

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