What Happens When I Don't Pay
Contact Aspire to take action before your account defaults; assistance options may be available. If you don't make payments, if you make them late or if you fail to meet other terms and conditions in your promissory note, your account may be reported to consumer reporting agencies, which may damage your credit.
The U.S. Department of Education may also subject you to other consequences, including:
- Becoming ineligible for federal financial aid in the future.
- Loss of ability to qualify for loan deferment or forgiveness on the defaulted loan.
- Ineligibility for a professional license if you're required to be licensed by your state.
- Having the entire balance on your loan(s) become due immediately.
- Having a lawsuit filed against you. If the U.S. Department of Education prevails, you may be responsible for its legal fees and other costs.
- Requiring your employer to take money out of your paychecks to pay your debt.
- Loss of federal or state tax refunds, state lottery winnings and any Social Security or veterans benefits.
Contact a Loan Counselor
If you'd like to speak directly with a loan counselor without charge or obligation:
- Call (855) 475-3335 between 7 a.m. and 7:30 p.m. (Central time) Monday through Friday.
- Schedule a convenient time to talk to a loan counselor.
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