In most cases, you can't get out of paying your student loans
Federal student loans are tightly regulated under law, with serious penalties for those who don't pay. So what happens when you stop paying back student loans? When a loan goes into default, borrowers may be blocked from buying a house, and the loans may not be resolved under bankruptcy. Before a loan goes into default, borrowers have several options to prevent a negative credit impact, including requesting a different payment plan, asking for a forbearance, or refinancing loans.
Federal student loans are tightly regulated under law, with serious penalties for those who don't pay. So what happens when you stop paying back student loans? When a loan goes into default, borrowers may be blocked from buying a house, and the loans may not be resolved under bankruptcy. Before a loan goes into default, borrowers have several options to prevent a negative credit impact, including requesting a different payment plan, asking for a forbearance, or refinancing loans.
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