What can happen if I can’t pay my student loans back?

Here are some of the consequences you can expect to face for not paying student loans.

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On top of being liable for your outstanding loan principal and interest, your lender might charge additional late fees and collection fees.

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Removing student loans from credit reports takes about seven years from the date of the default.

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Loss of Loan Benefits

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If you fail to pay federal student loans, any future federal and state income tax refunds can be withheld via Treasury offset.

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What can happen if I can’t pay my student loans back?

Here are some of the consequences you can expect to face for not paying student loans.

On top of being liable for your outstanding loan principal and interest, your lender might charge additional late fees and collection fees.

Late Fees

Removing student loans from credit reports takes about seven years from the date of the default.

Credit Score Impacts

Loss of Loan Benefits

This includes participation in loan forgiveness programs, the ability to request deferment or forbearance, and the choice of an alternative repayment plan.

If you fail to pay federal student loans, any future federal and state income tax refunds can be withheld via Treasury offset.

Tax Refund Withholding

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