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STUDENT LOANS
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Student Loan Repayment Options

When it comes time to repay your student loans, many lenders offer a variety of repayment plans -- some of them quite flexible. The plans available to you depend on the types of loans you have. Find out what kind of loans you have, learn about the options, and make the best choice for your financial situation.

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Can my Social Security be tapped to pay defaulted student loans?

Are survivors' Social Security benefits liable to garnishment by the government to satisfy defaulted student loan debts?

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default

A failure to perform a legal duty. For example, a default on a mortgage or car loan happens when you fail to make the loan payments on time, fail to maintain adequate insurance or violate some other provision of the agreement. Default on a student loan occurs when you fail to repay a loan according to the terms you agreed to when you signed the promissory note, and the holder of your loan concludes that you do not intend to repay.

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