One Year After I Faced My Student Loan Default

Last year I wrote a piece about how I finally faced the fact that my defaulted student loans weren’t going anywhere, and the surprisingly simple process I embarked upon to rehabilitate them. Now, 13 months after I made the first steps towards remedying my financial situation—mustering the courage to face my creditors, actually picking up the phone and asking for help, committing to slowly paying my debt back despite a not so lucrative salary—I am proud to say that my student loans have been successfully rehabilitated and I am no longer in default. I may be one of the only people in America to be thrilled that I owe Sallie Mae a large chunk of my hard earned cash. It’s amazing how perceptions can change when you finally owe semi-shady student loan overlords a boatload of money rather than completely ruthless and unrelenting run-of-the-mill debt collectors. It’s the little things that make me proud of how far I’ve come.

The People Who Can’t Pay Their Student Loans 10 Years After Graduating

If you were to guess what the most popular piece on The Billfold is, what would you say? The story that readers from all over are looking up and reading on a daily basis isn’t about how compounds interest works or the difference between traditional and Roth IRAs—it’s this piece by Anna Moreno, about when she defaulted on her student loans and what she did to get back on track.

Anna Moreno’s Student Loan Default Story on Marketplace

A few weeks ago, Anna Moreno wrote a piece for us about what happened when she defaulted on her student loans. Anna talked to Marketplace over the Fourth of July weekend, and reminded listeners that defaulting is not the end of the world.

I Defaulted on My Student Loans. Here’s What I Did to Get Back on Track

Anna Moreno stopped making her student loan payments and one day received a letter from the U.S. Department of Education notifying her that her wages would be garnished. This is a story about how she confronted her debt.