Defaulting on a loan happens after you miss payments for a set period. When you default on a loan, your credit score will suffer. Depending on the loan type, lenders can repossess collateral or ...

When you do not make payments on your student loan debt for long enough, your loan servicer may take another route to get back the money you owe. One of these avenues is seizing your wages, also ...

“Unfortunately, older borrowers often face the greatest repayment struggles, with nearly 40 percent of federal borrowers over the age of 65 in default on their student loans,” the lawmakers said.