What happens if you don’t pay your student loans?
With the national student debt topping $1 trillion, more students than ever are defaulting on their student loans.
The average student loan default rate is currently at 9.1%–that’s almost 1 in 10 borrowers.
If you have high student debt, you may be thinking, what’s the worst that can happen if you don’t pay it back?
A lot of terrible things, actually. From a severely low credit score to having your wages garnished, the consequences of defaulting on your student loans are dire.
Watch this video for the full scoop on what happens if you don’t pay your loans.
Even if you owe tens or hundreds of thousands of dollars in student debt, you don’t have to fall into default. There are many repayment options that will allow you to pay off your loans while avoiding these consequences.
It’s important to speak with your lender about your situation before letting your loans go unpaid. We can help get you on a repayment plan that lowers your payments and works best for your situation. Give us a call at 1-888-234-3907 or contact us here.