GSL Loan in default, what are my options?
Hello..thanks for your time
I am absolutely clueless on the workings of the loans systems, I'm pretty much a financial moron when it comes to lingo and technicalities. That being said..can you help?
I have had a student loan which is a GSL(not sure what kind of loan this is or what it means, but hopefully it will help you help me). It has been in default for years. I was young and dumb. I have moved from state to state(being i'm an Army wife), and it hasn't caught up with me until now. I honestly thought my ex-husband paid it off(while sparing gruesome details, there are many financial reasons he is now my ex). Whatever the case, it has finally caught me, I live in Hawaii, they are calling me at 4am and I just received my "warning notice." I owe $ 5,700, most of which is interest.
I am terrified to call them back..We are a one income, military family...Needless to say, we don't have much.
I am wondering what my options are? I want to face the music, but don't know which route is the best route. I have read about direct consolidations loans, but I think I have to be current on payments to qualify for those, correct? Then I have also read about loan rehabilitation, but I am not sure this is the correct answer for me.
I also have a overdue tuition that came directly from the University that has not been paid on in 10 years that is also in the $5,000 range. Do I have options here? Can I somehow consolidate these different debts into one?
Does anyone have an advice for me? Are there any other options that I am unaware of? What would you do if you were in my situation? I thank you so much for your time it takes to answer my situation. I am in need of help pretty badly and don't have any ideas what to do next.