Student Loan default can be defined as a student loan, which has not had a payment for 270 days or more. Before your loan fell into default status, it will be considered a late payment, and your creditors will try to collect on the loan in any way possible.

If you try to hide your debt and can not be contacted by your lender or their associates, it will be placed in the default status and handed over to an agency or a State guarantee, it will be placed in the hands of the Department of Education.

When this happens, the entire amount that you borrowed becomes due and payable immediately. Not just the amount you are behind, but the entire amount you financed with your original student loan. This occurs because the deadline has accelerated because of your status as a default and you agreed to this in your original terms of the student loan that you have taken.

Other consequences that go along with being in default of student loans may include:

Being handed over to a collection agency, so that they can try to collect the debt from you;

Your original amount borrowed may be increased to include and costs associated with collecting the loan from you, such as court costs and attorneys' fees;

You can be sued for the full amount, at any time, while lacking;

Your wages can be garnished, leaving you with less money than anticipated on;

Your income taxes may be withheld for the payment;

Your credit history will show that you have missed your loan so it is difficult to get any type of financing in the future and may interfere with your ability to find someone willing to give you a job;

You will no longer be able to receive any form of financial aid until these loans, which are in default are paid in full or that you have made a half years, the payments on time;

You will not be able to receive any federal interest benefits of any kind if you leave your student loan to go to the default directory.

At the end, you will have to repay the money you borrowed to finance your studies. If you leave your loan go into default, you must repay the initial amount plus up to 25% more because of the fees associated with fund-raising from you.