default student loans?

[indianchrkee]

i have a defaulted student loan and i want to go back to school. is loan consolidation a good idea and will it enable me to go back to school and also get financial aid?

[Mopar Muscle Gal]

it is now easy to restore your eligibility to receive additional Title IV federal financial aid. Basically, your options are: * Repay or satisfy the loan in full. * Make six agreed-upon monthly payments over a six month period. Your payment amount must be approved in advance by the Department. Every qualifying payment must be timely (received before the due date) and you cannot make all six payments as a single lump sum payment. Once your eligibility to receive additional federal financial aid has been restored after making six consecutive monthly payments, you must continue to make timely monthly payments to maintain your eligibility or else it will be permanently lost until the debt is resolved entirely. In other words, you may qualify for this program only once.