Or even catch-up on the missed repayments, fundamentally your student loans enter into default. And you can, in this stage, it gets very hard to fix the destruction.

To have government figuratively speaking, you can easily enter into education loan default as soon as your money be more than 270 those times the fresh due date. Getting individual student education loans, you can generally speaking get into standard immediately following their payment is over 120 months later.

The results out of education loan default are big. And the impact on your existing and you will future cash shouldn’t be underestimated. Continue reading →