What Happens When You Stop Paying Your Student Loans – U.S. News & World Report
- July 9, 2018
- By: Greenpath Financial Wellness
Featuring Chelsee Spencer, Financial Wellness Expert
In a perfect world, you’d have no student loan debt. And, if you did, you wouldn’t have taken on more debt than you could handle. Or you wouldn’t be facing financial setbacks that are making repayment of those loans a daunting task. If you’ve ever wondered what happens when you stop paying your student loans, we have some advice for you.
But the fact remains that, in 2017, the average student loan balance sat at $34,144 – a record high for the nation. And, on average, more than 3,000 people default on their federal loans every day, according to government data.