If you decide to never pay your student loans: Once it’s been 30 days since your first missed monthly payment, you’ll be hit with late fees (for federal student loans it’s 6% of the amount unpaid). You’ll get the first late notice on your credit report; that can knock as many as 100 points off…
Anna Helhoski is a writer at NerdWallet. Email: firstname.lastname@example.org. Twitter: @AnnaHelhoski.
The article What Happens if You Never Pay Your Student Loans? originally appeared on NerdWallet.