Can a borrower be sued for the entire loan amount if they default on payments? What are the most common/serious consequences apart from credit card scores taking a hit when you default on student loan payments?

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Yes, legal action can be taken where a student has to pay up the entire loan amount but that's not very common. The most common ones are credit score damage and wage garnishment.

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A1 is right. Also, defaulting can cause ineligibility for deferment or forbearance, which can cause serious consequences for you in the future.

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Also, if you're due a tax refund, your refund can be taken to satisfy your federal student loans (not private)

Wage garnishment, tax refund being intercepted to be put towards it, you can technically be taken to court. I had let mine go for a while, and am in contact with my loan provider about what I can do moving forward. It gets tough, but coming up with some kind of plan is usually the best move.

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Additional Posts in Student Loans

Can grad students get $20k forgiven if they got Pell in undergrad but outstaning loans are only for grad school?

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Are you doing what you thought you would be when you took out your student loans? If so, do you feel like taking out your loans was worth it?

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Curious to know how much your student loans were when you graduated from your program, how much you’ve paid off so far, and your age. If you have any varying factors too, like kids, income range, etc. Just trying to see if I’m on track or slacking in life. I am 34 yo, i graduated with 95k in student loans, i currently have 85k left and i make 85k in come. I’m also a single mom with two kids. Just praying for 100% student loans forgiveness. Wishful thinking???

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Has anyone refinanced their student loans on h1b visa? Is common bond the only option?

If you didn't have to pay off any more of your student loans what would you use the money for instead? I'm stuck between something impractical like a trip somewhere or something I need like a new car lol

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If you could go back in time what would you tell yourself before taking out student loans?

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