5 steps to get back on track with student loans
Life doesn’t always go as planned, and in challenging times student loan payments can sometimes take a back seat. If your student loans have gone into default, you’re not alone.
At Numerica, we understand how overwhelming that can feel. That’s why Numerica partners with GreenPath Financial Wellness to help you regain control of your student loan repayment plan and move toward a stronger financial future.
What does "default" mean?
Federal student loans go into default when you miss payments for about 270 days. This can impact your credit, may lead to wage garnishment, or disqualify you from helpful federal loan benefits.
But the good news is that there are real steps you can take to get back on track.
Step 1: Know where you stand
Start by gathering the facts.
Look at your:
- Total loan balance
- Interest rates
- Communications from your loan servicer
Understanding your loan details gives you the power to take your next steps with confidence.
Step 2: Connect with your loan servicer
Once you have your loan info, reach out to your loan servicer. Be kind and clear, if your financial situation is challenging right now, tell them and ask them what options you have.
They can then walk you through your options for getting out of default, such as loan rehabilitation or consolidation.
Not sure who your servicer is? Visit studentaid.gov and click “Find Your Student Loan Servicer.”
Step 3: Get help from GreenPath
Feeling stuck? You don’t have to do this alone. Numerica’s partner, GreenPath, offers one-on-one student loan counseling to help you find your best path forward.
As a trusted nonprofit, they can help you explore options like:
- Loan rehabilitation: Set up a plan to make affordable monthly payments and bring your loan back into good standing. This may also help your credit score.
- Loan consolidation: Combine multiple loans into 1 to simplify payments, potentially reduce your monthly amount, and access new repayment options.
- Income-driven repayment plans: Adjust your payments based on your income, so they’re easier to manage.
Call GreenPath at 855.400.3710 or visit their website to get started.
Step 4: Stick with it
Dealing with loan default takes persistence, but every step forward counts. Stay informed. Stay proactive. Stay consistent. Lean on Numerica and GreenPath’s experts when you need guidance. You’ve got this.
Step 5: Build a brighter financial future
Once you’re on the path out of default, think long-term.
Consider:
These habits will help you stay on solid ground and avoid setbacks.
To recap: To move forward from student loan default, start by understanding where your loan stands. Talk with your servicer to explore your options, and don’t hesitate to reach out to GreenPath for personalized support. Stay consistent in your efforts, and as you gain momentum, begin setting goals that support your financial future. Start building for what’s next.
You’re not alone, we’re here to help
Managing defaulted student loans is tough, but you don’t have to do it by yourself. With guidance from GreenPath and support from your friends at Numerica, you have the tools to reclaim your financial future.
Take the first step today, because your future is worth it!
Updated June 2025.
Written by Numerica’s Financial Wellness Team
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