As mentioned in our tweet of day, November marks the end of many federal student loan borrowers’ 6-month grace periods.
If your first payment is due this month, do you know where to send it? Not knowing this information is one way many borrowers fall behind on their payments and eventually default. Why else do borrowers end up in default? Check out the infographic below to find out their reasons—and remedies for each.
(And, if you don’t know where to send your payments, look up your servicer in NSLDS.)
Have a question about student loan default? Let us know, and we’ll answer it!
(UPDATE: Please note that the image above was updated on March 29, 2013, to correct a typo.)
Download this infographic.