Default is failure to make a payment or submit a request for deferment, forbearance or cancellation on or before the scheduled payment due date.  It is important that you keep your account current. It is strongly advised that you contact the Perkins Office before you fall behind in your payments to discuss payment and/or deferment options.

Possible consequences of default include:

• Holds on transcripts
• Late Fees
• Damage to your credit rating
• Loss of eligibility for any new or additional student financial aid
• Placement of your account with a collection agency (including associated collection and legal costs)
• Loss of cancellation and deferment benefits
• Interception of Connecticut tax refund
• Assignment of your account to the Federal government