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If you are falling behind on your student loan payments, which of the following steps should you take to avoid default?

1 Answer

5 votes

Answer:

These are the answer choices for the question:

A. Transfer your balance to a credit card

B. File for bankruptcy

C. Contact your lender

D. You cannot default on student loans

And this is the correct answer:

C. Contact your lender

Step-by-step explanation:

If you are about to default on your student loans, the best alternative you have is to contact your lender in order to renegotiate the terms of the loan. This is because you cannot default on student's loan, so filing for bankruptcy is not an option, and transferring the debt to a credit card is not a good idea because credit card debt usually has higher interest.

User Roberto Pezzali
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