Contact Financial Aid

Student Financial Assistance
Nova Southeastern University
Horvitz Admin. Bldg, 1st Flr.
3301 College Avenue
Ft. Lauderdale, FL 33314

(954) 262-3380
800-806-3680

Contact Student Financial Assistance

Debt Management Tips - Avoid Defaulted Loans

Default occurs when you fail to meet the terms of the promissory note. By failing to make payments on your student loans (being late for 270 days), the lender or servicer can request immediate payment in full. There are several consequences that can occur due to being in default:

If you're late making a loan payment, your delinquency might be reported to the national credit bureaus. Instances of delinquency and default that are reported to national credit bureaus will remain on your credit report for a minimum of seven years. This may make it difficult for you to borrow money for a car or a home in the future.

In order to avoid going into default, here are some tips:

If you have difficulty in making your loan payments before you become delinquent, contact your lender or loan servicer.