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Student Loan Debt FAQ » Student Loan Debt » Student Loan Debt FAQ



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Find simple answers to all your questions about student loan debt.

Knowing how to move forward with student loan debt can be tough – especially when so-called “help” sites are using a bunch of jargon and language that you just don’t understand. We get it.

That’s why we’ve created this handy section of our website that answers all of the top questions that people ask about student loan debt, consolidation and forgiveness programs. We break everything down as simply as possible, so you can learn what you need to know and move forward with confidence.

If you can’t find the answer you need below, or you need more information about your question than what we provide, just give us a call or fill out the form to the right to request the help you need.

Are student loans forgiven if you declare bankruptcy?

Most people think of bankruptcy as a completely clean slate – you take a credit penalty in exchange for a judge clearing your decks of all your outstanding debt. Unfortunately, student loans don’t operate like other debt so bankruptcy may not fix your situation, even if the loans are private.

Find out how bankruptcy affects student loans »

Can the government garnish my wages or taxes for student loans?

You work hard for every paycheck you earn and probably can’t afford to lose income because your wages are garnished. The same thing is true of your tax return. Understand what the government can do if you don’t pay back your student loans on time and keep up with the monthly payments.
Learn how missed payments affect your wages and taxes »

How do dropped classes affect my student loans?

Sometimes you just can’t keep up with your course load and you need to drop a class to do the right thing for your education and life. But when do dropped classes start to affect your student loans payments? Learn how many you can drop before the clock starts on your student loan repayment.
See the effect of dropped classes on your loans »

How do student loans affect your credit score?

Student loans can have both positive and negative effects on your credit score. On one hand, making timely payments on your student loans can establish a positive payment history, which is a crucial factor in credit scoring. This can help improve or maintain a good credit score. On the other hand, if you miss payments or default on your student loans, it can significantly damage your credit score. It’s important to responsibly manage your student loans to minimize negative impacts on your creditworthiness.
Learn how student loans affect your credit score »

How is student debt good?

As much negative press as student loans get, these loans are not all bad. Learn how student loan debt can be good for you, your credit and your financial outlook as long as you have the means to maintain control over the debt. We also give tips for how to stay in control to avoid problems.
Find out why student debt is a good kind of debt »

What happens if I can’t pay my student loans?

Unemployment and even underemployment can make it impossible to keep up with the monthly payments on your student loans. If you can’t afford to cover your loan payments along with your other obligations, we offer options for finding relief so you can make a plan to avoid financial distress.
Learn what happens when you don’t pay your student loans »

When do student loan payments start?

Not all student loans require you to start paying as soon as you graduate. Some loans have grace periods of up to 6 months. The type of loan, your repayment plan, and other factors affect when you need to start paying.
Learn when you need to start paying your student loans »

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