Default student loans - Defaulting in your student loans can be dangerous.Every year when the gradu

Defaulting on your student loans can have severe and lasting consequences. Unlike many other types of debt, student loans are rarely discharged in bankruptcy, meaning you are legally obligated to repay them under almost all circumstances. Understanding the risks and what happens if you fall behind on payments is crucial for any borrower.

What Happens When You Default on Student Loans?

When you borrow federal student loans, you agree to specific repayment terms. Typically, your payment period begins 90 to 120 days after your academic session ends, depending on your loan type. If you miss payments, your loan enters a 'delinquency period.' If you fail to make payments for more than 270 days after your session ends, your loan is officially considered in