What Happens If You Don't Pay Back Your Student Loans for 1 or More Years?
There are more than 43 million people in America who are saddled with student loan debt -- much of it (some 93%) from federal student loans. That's a lot of people -- more than 15% of the entire adult population in the U.S. (which totals more than 260 million). The average federal student loan debt balance was recently around $37,000 -- and when you owe that kind of money, it can be hard to get ahead.
For some borrowers, it's even worse, because they can't even make their loan repayments. If you don't pay back your student loans, lots of bad things can happen.
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Source Fool.com
