What Actually Happens If You Don’t Pay Your Student Loans?

If you have federal student loans, you know that payments are due again after a three year hiatus. Interest is also accruing on federal student loans after being fixed at 0% for over three years, and not everyone is happy about it, either.

The fact is, not having federal student loans payments since early 2020 has been a financial lifesaver for people who have experienced a drop in income and other financial hardships. Other people have just become accustomed to not making student loan payments and have started to spend that money elsewhere.