What Happens When You Default on Your Student Loan?
Understanding Delinquency and Default You do not default on your loan right away. It has different stages. When you miss the first payment on your loan, your loan is considered to be delinquent or a student loan default. The loan service provider may start charging you fees from this point on. But they do not […]
Best Ways to Avoid Student Loan: Delinquency and Default
On average, a college student in the US owes roughly $40,000 in student debt and the amount has accelerated in the past few years. High tuition fees at college render most students unable to pay fees without taking any debt. A student loan default can affect your finances after graduation. You may miss some life […]
What are Defaulted Student loans?
Defaulted on student loans is when you stop making your loan payments. Sure, there are times late payments are made, but not making any payments places you in default status. Unfortunately, there are serious consequences when defaulting on a student loan. The school you attended guaranteed the loan. Whether you have a private loan or […]