What happens if you never pay your student loans ? Watch

shanerobert
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If you are not paying your student loans, your balance will keep growing as interest accrues. if you default on a federal student loan, then the government can take your tax refund or up to 15% of your wages.
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Deyesy
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(Original post by shanerobert)
If you are not paying your student loans, your balance will keep growing as interest accrues. if you default on a federal student loan, then the government can take your tax refund or up to 15% of your wages.
It eventually gets written off - if we're talking Student Finance England
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Glaz
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I thought that they got cancelled after like 20 years or something :ninja:
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username4889668
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(Original post by Glaz)
I thought that they got cancelled after like 20 years or something :ninja:
Think it's 30? Not sure.
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Leviathan1611
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(Original post by Glaz)
I thought that they got cancelled after like 20 years or something :ninja:
30 years
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Amon-ster
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Don't know the new rules

But I know once you start earning above a certain threshold the government automatically starts taking 10-15% of your wages, and if by the end of 30 years from when you graduate you haven't paid the full loan then it gets wiped off.
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