If you default on your student loan, it means you failed to make your loan payments as scheduled. Your school, the financial institution that made or owns your loan, your loan guarantor, and the federal government all can take action to recover the money you owe. Here are some consequences of defaulting on your student loans:
Obviously, you don’t want to let your loan go into default. However, should this happen, find out what options are available. Visit this link https://www.myeddebt.com/borrower/ to find comprehensive information developed by the Department’s Federal Student Aid Collections section.