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...

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 »

Will applying to the william d ford foundation for a buyback of my defualting student loan keep my income tax?

When you say "buyback" I am assuming you are talking about doing a consolidation to get your loans out of default. If you consolidate, your loans will no longer be considered to be in default. Sin... Read More »

Should i take out a student loan and pay it back later, or try to work while i go to school?

well ill tell you what man im pretty sure student loans are one of the leading causes in debt in the u.s. so id definitely try to work while i go to school and se if it is sufficient enough if not ... Read More »

How Can You Go Back to School if You Are in Default on a Student Loan?

Going back to college can be a challenging task if you're in default on federal student loans. Unless you plan to pay for your education out-of-pocket, then you will need to get your student loans ... Read More »