Student Loan Law: 16.7.2.1 Typical Private Student Loan Contract Provisions
Federal limits on the grounds for default and acceleration of federal student loans do not apply to private student loans. Like any other private loan, grounds for default and acceleration are set out in the credit agreement, as modified by any applicable federal or state law. A CFPB report found that most private student loans trigger default and acceleration after the loan is 120 days past due.283
Private student loans may specify in the loan agreement additional grounds for default other than missed payments, including: