What are the consequences of defaulting on a private student loan?

Related FAQs

Are there any special considerations for students attending for-profit colleges and universities?
Are there any government programs to reduce the interest rate on student loans?
What is the difference between a loan deferment and a loan forbearance?
How do I consolidate my student loans?
What are the consequences of defaulting on my student loans?
Are there any special programs or incentives to help me pay off my student loans?
Are there any financial aid programs that cover the cost of books and other supplies?
Can I discharge my student loan debt in bankruptcy?
Does loan consolidation reduce my interest rate and monthly payments on my student loans?
How do I determine my credit score and eligibility for student loans?

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