Going into default on your student loan obligations can have serious and long term negative consequences on your credit score, which is used to determine your creditworthiness. (badcreditloanservices.com)
This means for every 100 graduates, around 14 default on their student loan debt within 3 years of graduation. (debt.org)
The plan to make colleges accountable for defaults on student loans rests on the assumption that colleges are at fault for student loan defaults. (studentloans.net)