Defaulting on student loans can not only have the usual effects on your credit reports, but it turns out that in many states, according to this New York Times article your professional licenses and/or your drivers license may also be suspended. Which will cost you your job, your ability to get to your job. Which will make it harder to pay back the loan in the first place.
This is a terrible policy cooked up by who knows who!
Nevertheless, for those struggling with student loans and juggling between figuring out which loans to pay and which ones to ignore for the short term, please beware!
Submitted November 23, 2017 at 08:42AM by arnexa http://ift.tt/2hPhSND
