National College

Department of Repayment Success

Repayment Success

The Department of Repayment Success is here to help students who have attended National College with questions or concerns regarding student loan repayment.

If you are having problems repaying your federal student loans or if you have questions about your loans, please contact us today. The Repayment Success department is here to help both current and former students. We want to make sure that all of your questions are answered!

Mr. Jodie Terry
Director of Repayment Success

Voice 540-769-8255
Fax 540-769-8293
Toll Free 877-571-6221

Office Hours
M–F, 8am – 5:30pm EST

  • Helpful Links
  • Borower Options
  • Repayment Success Documents
Borrower Options

Deferment

You may postpone your payments if you qualify for an Economic Hardship, In-school, Unemployment, or Disability deferment. Qualification is determined by current economic, enrollment, employment, or disability status. You are entitled to any of these deferments if you qualify.

Forbearance

You may qualify for a Mandatory or Economic Hardship Forbearance. Please contact National College for more information about forbearance.

Consolidation

You may be eligible to consolidate your loans. Loan consolidation often reduces your monthly student loan payment.

Alternative Payment Plans

You may qualify for Income Based Repayment, Graduated, or Lowered Payment plans.

What is Default and What Does it Mean for Borrowers?

A loan is in default status when it is 270 days past due. At this point it is declared in default. When this happens, the entire balance of your loan(s) become due and you will no longer be eligible for any Title IV financial aid or for any of the options described above.

Consequences of Defaulted Loans Include:

  • Reporting the default to all national credit bureaus.
  • Withholding of a percentage of your wages until repaid in full.
  • Adding collection and attorney fees to the balance of your loan.
  • Seizure of your IRS tax refund by the U.S. Department of Education.

 

 

 

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