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REHABILITATE YOUR DEFAULTED STUDENT LOAN(S)

This notice is to advise you of the benefits in rehabilitating your defaulted loan(s).

• The debtor must make nine voluntary, consecutive and timely monthly payments.
• The monthly payment is determined by contacting your Account Resolution Agent.
• The debtor’s underlying loan(s) would be paid off to RIHEAA by a lender creating a new loan in good standing.
• The purchase price will be the total of the interest and principal plus 18.5% collection cost.
• The new total purchase price becomes the new balance with the lender.
• If any of the nine voluntary monthly payments are not made, the debtor must begin the process over for nine consecutive months.

BENEFITS OF REHABILITATING

Reinstated Financial Aid Eligibility
Reinstated Deferment Eligibility
Reduced Percentage of Collection Costs
Default Notation Removed from the Credit Bureaus

Last Modified: September 23, 2008 10:41:05 AM

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