Cheryl Winokur Munk
speaker
643 appearances
14 recordings
1 series
first heard Mar 2018
last heard Nov 2024
Cheryl Winokur Munk’s voice in public audio — every appearance, attributed to the second.
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Appearances
You really have to read your promissory note.
Once a borrower is in default on a private student loan, the lender is going to require immediate payment of the full balance.
The lender will also seek repayment from the loan's cosigner if there is one.
So if there's a parent or a spouse or anybody, that person would be responsible for repayment.
The borrower's account could be referred to a debt collector and defaulted loans can be reported to the National Credit Bureau's.
There could be collection charges or all sorts of negative consequences of defaulting on a private student loan.
That's generally true.
The time period varies from state to state.
It can be up to 15 years, but usually it's from three to 10 years and six years is really the most common.
That's true.
But again, it depends on the state.
You have to understand the laws of the state to know what the statute of limitation is.
They can, but they're not under obligation to.
Any borrower who's having trouble making payments, whether this is federal or private, should really call the loan servicer first, because there may be something the servicer can do to help the borrower get back on track without going into these really other negative consequences.
Thanks for having me.
Yes, it can.
The issue is that life expectancies are so much longer today.
The average American man will live to age 76 and the average American woman to age 81.
And the issue is if you start investing too conservatively too soon, then the chances of you running out of money later on increase.
That's true.
Showing 541–560 of 643 · page 28 of 33
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