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Loan Rehabilitation Program
The State intends to secure a contract for one or two procuring parties to purchase loans through its Loan Rehabilitation Program. Loan Rehabilitation is a service that allows borrowers with defaulted Federal Stafford (subsidized and unsubsidized) Loans, Federal PLUS (parent and graduate/professional) Loans, and Federal Consolidation Loans to remove the default status on their loans and repair their credit history if nine (9) consecutive, on-time, voluntary monthly payments are made within a ten (10) month period.
