Summary of Deferring, Cancelling, or Defaulting on Your Student Loans

Deferment, forbearance, and cancellation can be welcome possibilities to the new graduate just starting out. Defaulting can be a big disaster that should not be taken lightly.

Make sure to include your student loan payments in your financial planning so that they do not hurt your chances of getting loans in the future. Not getting a car loan, a business loan, or a mortgage because of a student loan default can hurt not just your professional career, but your private life.