Student loans in the states are some of the more predatory loans. I’ve heard that if you don’t pay them. If you don’t make a payment in 90 days it goes into delinquent status. After 270, it’s in default status. This means it goes to a collection agency. So your credit score goes to shit, you get harassed by mail and phone calls for 10 years, and eventually the gov can get involved and garnish your wages it take your tax refund(which is funny because I always owe every year anyway because tax returns are essentially made up bullshit now)
In some cases. You can be paying your max affordable amount but the interest is so hgh that the amount you end up needing to repay is still increasing.
Best case scenario for me is hopefully with 2 kids and (think) still on a payment plan based on income, I won’t owe that much each month. I got out on a special plan that as long as I pay something, my loans will be forgiven after 30 years.
Student loans in the states are some of the more predatory loans. I’ve heard that if you don’t pay them. If you don’t make a payment in 90 days it goes into delinquent status. After 270, it’s in default status. This means it goes to a collection agency. So your credit score goes to shit, you get harassed by mail and phone calls for 10 years, and eventually the gov can get involved and garnish your wages it take your tax refund(which is funny because I always owe every year anyway because tax returns are essentially made up bullshit now)
In some cases. You can be paying your max affordable amount but the interest is so hgh that the amount you end up needing to repay is still increasing.
Best case scenario for me is hopefully with 2 kids and (think) still on a payment plan based on income, I won’t owe that much each month. I got out on a special plan that as long as I pay something, my loans will be forgiven after 30 years.