What happens When you dont pay your student loan?

I payed for 2 1/2 when i called the first time they said it was for 5 years then i called again they tricked me and said it is for 15 years.

What happens When you dont pay your student loan?

1. loan defaults=bad credit rating.

2. administrative wage garnishment of your paycheck.

3. dept. of education takes your income tax refund.

4. can't take out any more student loans until debt payed.

What happens When you dont pay your student loan?

Well first I would make sure I got a solid answer, but I know that if you don't pay your studend loans eventually the money will be garnished from your tax returns and wages, this happened to my mother.

What happens When you dont pay your student loan?

Whoa, you need to call around and switch who you're paying to. If you don't pay, you will get horrible credit.

What happens When you dont pay your student loan?

I have never saw a student loan that was for 15 years.......

What happens When you dont pay your student loan?

Vinny and Louie come over and play golf with your head,

What happens When you dont pay your student loan?

They didn't %26quot;trick%26quot; you probably. You signed a contract for a certain amount of money to be paid back. Depending on the interest and your monthly payments, you can figure out for yourself how long it will take to pay this back. Or look at the charts that are available for the loan amounts and your particular interest.

If you don't pay it back, your credit rating will be seriously affected, and it will hurt you when you apply for a credit card, apartment, mortgage, etc. It will keep you from getting a low interest car loan as well. You will become a credit risk and have to pay more in interest because of defaulting. My suggestion is to try to get on top of this and figure out for yourself what the real story is, then work to get it paid off as soon as possible. The sooner you pay if off, the less interest you have to pay overall. Best of luck!

What happens When you dont pay your student loan?

HOW DID YOU LET THEM TRICK YOU DIDN'T YOU READ IT BEFORE YOU SIGNED UP FOR IT? WELL IF YOU DON'T PAY IT THEY ARE GONNA COME AFTER YOU FOR THE MONEY SOONER OR LATER. TRY TO SEARCH ON LINE FOR SOME HELP OR GET A LAWYER. AFTER ALL YOU DID SAY YOU WERE TRICKED! LOL!

What happens When you dont pay your student loan?

you dont have pay it back at all just leave the country and dont come back for six years thats for the uk thats what i did but i didnt come back and never will

What happens When you dont pay your student loan?

Default and your credit is shot for a very long time.

What happens When you dont pay your student loan?

if you don't pay they'll take it from your tax refunds and stuff- happening to my mom.

first, i would find your terms/ MPN from when you signed for the loan and see what it says. if you can not find it, call them and see if you can't get another copy mailed to you. also, when you call tell them that you have gotten two different answers and tell them that you want a definitie answer.