What are the consequences of not paying back student loans?

What are the consequences of not paying back student loans?

Failing to pay your federal student loans on time is very costly. The government charges late fees and collection fees if you let your bills go unpaid for too long. And, of course, they report your delinquency to the credit bureaus, which makes it hard for you to get a credit card, car loan, mortgage, or, in some cases, certain kinds of jobs. You will also be on risk of going into default.

Topic Information
  • Topic #: 16092-245
  • Date Created: 12/10/2012
  • Last Modified Since: 06/27/2013
  • Viewed: 309
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