Student loan default can be used as a student loan, not a payment for 270 days or more was defined. Before the loan is in default shall be considered delinquent, and your creditors trying to collect on the loan and every way possible.

If you try to hide your debt and can not be contacted by the creditor or its affiliates, will be placed in default status, and turned with an agency of State securities orwill be put in the hands of the Ministry of Education.

When this happens, the entire amount of the loan are due and payable immediately. Not only the amount you are behind, but the entire amount is financed your original student loans. This is because accelerated the due date for your state by default, and decided to include in your original term the student loans you got it.

Other consequences that go beyond beingin student loans can be included by default:

Then he turned to a collection agency, so that you are trying to collect the debt from you;

They can borrow to raise the initial amount to be included and are the costs associated with the collection of your loan, such as court costs and legal fees;

They can be sued at any time during paid in arrears in full;

Your wages may be garnished, and had less money than originally planned;

Your incomeThe fees may be used for payment may be denied;

Your credit history to show that you are on your loans makes it difficult to get any type of financing in the future and, possibly, his ability to find someone willing to rent payment obligations shocked to be made;

Will no longer be able to get any kind of financial aid to those loans that are in arrears are paid in full or have made timely payments for six months;

Will not be able to receive all the benefits of the federalof any kind, if you can take your student loan in default state.

Is borrowed, in the end, it is required to repay the amounts you must finance your education. If you let your loans go into default, it is connected to repay the original amount, and up to 25% more, through collection of fees in connection with funds from you.