Are there any second chance student loan programs?

Yes, there are second chance student loan programs in Wisconsin. The Wisconsin Higher Education Aids Board (HEAB) operates the Second Chance Tuition-Fee Loan Program. This program provides tuition and fee loans for eligible students with past due student loan obligations from other sources. These loans can be used to pay the remaining tuition and fees for individuals who wish to attend either an accredited two-year or four-year college in the state. In order to be eligible, applicants must meet certain criteria including being a Wisconsin resident, being in default or near default on a student loan, and having filed a Free Application for Federal Student Aid (FAFSA) for the current academic year. The HEAB must also determine that the individual do not have the financial resources to pay for the tuition and fees in order for the loan to be granted. The terms of the loan vary depending on the individual’s total indebtedness, but the loan can be for up to 100% of the tuition and fees for the period of enrollment. Interest will also accrue on the loan, but if repaid in full within the period of enrollment, the interest can be forgiven. The HEAB website provides a list of resources for individuals who want to learn more about second chance student loan programs in Wisconsin. It also provides contact information for individuals who want to ask questions or to apply for a loan.

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