Borrowing Money for School

What are the Consequences of Student Loan Non-Payment

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In Brief...

For all people who have student loan debt, making a student loan payment on time is important for a number of reasons. The most common consequence of not making student loan payments on time is losing your tax refund. Every year when you file your taxes, if your student loans are in delinquent status, you risk losing the refund. Similar to the way your tax refund can be intercepted, your paycheck can be garnished to handle the debt. While this may not be a "consequence" for some people, others who enjoy the idea of serving in the Armed Forces may find this to be a major motivator to make student loan payments on time.. If you are having problems with making student loan payments, speak to your lender or loan servicer today to make arrangements to keep your account in good standing.. New In Student Loans FHA Loans Home Equity Loans Mortgage Basics Mortgage Calculators Mortgage Loan Education Mortgage Refinancing VA Loans Car Loans Cash Advance & Payday Loans Hard Money Loans Loan Basics Small Business Loans Student Loans Banking & Credit 101 Credit Cards Credit Report Credit-Building & Management Debt Consolidation Debt Settlement Personal Banking Bonds ETF FOREX Trading Investing Basics Metals Resources & Collectibles Mutual Funds Options Stocks 401 k Estate Planning IRAs Living in Retirement Retirement Planning Auto Insurance Business Insurance Disability Insurance Health Insurance Home Insurance Insurance Basics Life Insurance Filing Taxes General Taxes Small Business Taxes Tax Planning Tax Relief Budgeting Planning Basics Saving Buying General Real Estate Home Improvement Renting Selling Banking & Credit Finance Insurance Investing Loans Mortgage & Real Estate Student Taxes

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