There are several mechanisms, such as extending your loan contract. In addition to contacting your administrator.
What if you don't make a payment on time?
Primarily, you may be charged late fees.
Is it worth highlighting the importance of avoiding payment default?
It is important to note that it is important that you do not borrow more than you need or more than you expect to be able to pay.
Well I'm having some financial problems but nothing that can't be resolved. What if I want to consolidate a more defaulted loan that I got for my child's education?
The only income-driven plan you can choose is the Income-Contingent Repayment Plan (ICR).
Ah, I see. So what do I need to do to reconsolidate a defaulted direct consolidation loan then?
You must also include at least one other eligible loan in the consolidation in addition to meeting one of two requirements.
Makes sense, but how can I rehabilitate a defaulted Federal Perkins Loan?