University of Cincinnati Bearcats Score No Points for Student Loan Default Rates

Unfortunately, no cheers are coming from the United States Department of Education when it comes to the Bearcats’ ability to repay their student loans. In 2014, University of Cincinnati was declared one of the worst schools in regards to its graduates maintaining their student loan payments. According to the U.S. Department of Education’s statistics, the three-year default rate on student loans taken out to attend the University of Cincinnati was around ten percent.

This means that one in every ten graduates was in default on their student loans. To be considered in default on student loans, a borrower’s account must be at least one hundred and twenty (120) days or more overdue. Once in default, borrowers face severe penalties. The first is that their credit scores are significantly harmed. Low credit scores can impair borrowers’ abilities to buy new cars to transport them to and from Bearcat games or, more seriously, to and from their jobs. Low credit scores can also prevent borrowers from obtaining mortgage loans for a new home.

Unfortunately, low credit scores are just the tip of the iceberg for those who are struggling to make their monthly student loan payments. In addition to damaged credit, borrowers who find themselves in default on their student loans face the possibility of wage and tax garnishment. Wage and tax garnishment occur when the government seizes a portion of the borrower’s paychecks or withholds the borrower’s tax returns in order to recoup on outstanding student loan debt. Student Loan Law Group warns borrowers that once garnishment occurs, it is very difficult and time-consuming to reverse. As such, Student Loan Law Group urges borrowers who are in default or who are likely to be in default soon to contact Student Loan Law Group immediately for help.

Student Loan Law Group defends borrowers who have been threatened with garnishment. Unlike debt relief agencies who do not usually employ attorneys, Student Loan Law Group consists of licensed attorneys who are able to provide legal counsel and represent borrowers at court proceedings. Student Loan Law Group also defends borrowers who have been harassed by loan servicers or debt collectors.

Borrowers who are in default, may soon be in default, or feel that they have been harassed or unfairly treated by their loan servicers may contact Student Loan Law Group via telephone at 888-843-1706888-843-1706 FREE or visit the website here.