What Happens if you cant pay back a student loan. Due to low income?

Answer Your only option is to repay... even a small amount, every month, until it's paid off. Even if they complain and say you aren't paying enough, they aren't going to send any money back to you becas... Read More »

Top Q&A For: What Happens if you cant pay back a student loa...

What happens to a student loan if the student dies?

Read the promissory note or the terms and conditions of the loan you took out. With some loans, the loan company can to put in a request for payment from the estate. If his/her estate can't pay it... Read More »

What happens if I can't pay my private student loan?

Eventually your loans will go into default, which means they can charge you all kinds of penalties and fees. They will also double your interest rate and when you do start working they will garnis... Read More »

What happens to remaining money from a private student loan?

Yes, you will. But be careful with that money, and spend it wisely.Keep these things in mind:1. The lender made that loan on the basis of your school's estimate of approximately what it will cost y... Read More »

How much of income has to be contributed to a student loan debt?

On July 1, 2009, the government's "Income-Based Repayment" program limited borrowers' monthly loan payments to 15% of discretionary income that's above the poverty line. If the loan is not paid off... Read More »