Private College Student Loan

Is it true that if I default on my ?

student loan, I could lose my teaching license? I'm a teacher who is having trouble paying the expected monthly payment on my student loan. I was warned by a representative at Nelnet that if I don't keep my payments up to date, I could lose my teaching certificate, no matter how qualified I am. Is this true??

Public Comments

1. They come and erase your entire education from your brain. Just Joking... They are just trying to threaten you so you pay, that is a scare tactic used by collection agencies. Some companies run your credit to see how responsible you are. So unless the school board has that policy, then you should not have anything to worry about. Send them a good faith payment each month, even if it is not the requested amount. Then wait for Barack Obama to come bail out the student loan non-repayment crisis.
2. Yes! This information is in your master promissory note. Call Nelnet and get a forbearance put on your account immediately. You also have the option of deferments as well if you have not used up all of your allowance. BTW the taking of your license has nothing to do with the state. It is Federal law. You are a teacher and I can't emphasize this enough that there are sooooo many loan forgiveness programs for educators. The Fed gov. has a program. I would suggest looking it up online. If this is a private loan then, my information is practically useless and you would have to speak to the lender concerning this matter. However, I am familiar with Nelnet being a FFELP lender, so I highly doubt it. I also can't emphasize enough that you should keep the lines of communication with Nelnet. They have a duty to provide you with the information and means about forbearances and deferments, but the burden of getting it done is solely on you.