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Student Loan Debt FAQ
We help you get on top of your student loan debt payments by answering the top questions about debt, consolidation and forgiveness from around the web.
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.
Q:Are student loans forgiven if you declare bankruptcy?Debt.com
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A: 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 »
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Q:Can the government garnish my wages or taxes for student loans?Debt.com
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A: 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 »
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Q:How do dropped classes affect my student loans?Debt.com
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A: 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 »
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Q:How is student debt good?Debt.com
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A: 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 »
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Q:What happens if I can’t pay my student loans?Debt.com
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A: 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 »
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Q:When do student loan payments start?Debt.com
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A: 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.
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DISCLAIMER: Debt.com does not provide direct debt adjustment services, but, upon request, acts as a locator service for BBB registered companies. It is ultimately up to you to determine whether the companies that we may introduce you to are appropriate for your situation. All federal student borrowers are able to--and encouraged to--learn about, and apply for, any federal re-payment and forgiveness programs through the US Department of Education and other sources for free without paying fees to any person, company, or counselor. Nothing on this site constitutes ANY official qualification or ANY guarantee of result. All telephone numbers listed may connect to private companies offering fee-based services to assist with application preparation for federal and other loan programs.
Please note: Only the US Department of Education can provide determination of eligibility and exact payment amount for any government forgiveness or repayment program listed on this website. Also, you may apply for all forgiveness and re-payment programs may be applied to for free without paying anyone for assistance through the US Department of Education. Our calculators, estimators and eligibility tools are strictly to help consumers understand potential options estimate potential payments and do not provide any guarantee of enrollment, qualification, or payment amount for ANY programs.
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