Here’s what happens—and what to do—if you can’t pay your federal student loans

Student debt relief has helped millions of Americans during the pandemic. Since March 27, 2020, federal student loan interest rates have been set to 0% and payments have been paused. 

But the policy is currently set to expire on Oct. 1, 2021, and many borrowers are still struggling financially, leaving many to wonder: What happens if I can’t make my student loan payment? 

Private student loans do not have federal protections and have specific contracts that dictate the consequences of missing a payment. However, the consequences for missing federal student loan payments often follow a common pattern.

Abigail Johnson Hess | CNBC

Related News

Browse By Category


Send Us A Message