The federal student loan gainers are usually not come under default in financial crisis or at the time of job loses however the students who took private loans from banks or any other financial institution will be a major victim of default if there job lost or they suffer some financial crisis in between the loan payments.
This situation can effect there credit history which later can cause effect on jobs and there borrowing ability. The Wall street journal reports that More Than 40% of Student Borrowers Aren’t Making Payments.
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Declaring bankruptcy is one of the many options a debtor can perform when he can no longer meet the terms...