What are the Default consequences?

What are the Default consequences?

You may experience serious legal consequences if you default:

- You lose eligibility for additional federal student aid.

- Your federal and state taxes may be withheld through a tax offset.

- Your employer (at the request of the federal government) can withhold money from your pay and send the money to the government. This process is called wage garnishment.

You can find more Information at: http://studentaid.ed.gov/repay-loans/default .

Topic Information
  • Topic #: 16092-965
  • Date Created: 06/27/2013
  • Last Modified Since: 06/27/2013
  • Viewed: 322
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