What are the consequences of not repaying a student loan?

  • You will be reported to a credit bureau having a negative effect on your credit rating.
  • You can be referred to a collection agency and have to pay collection costs.
  • Your employer may garnish your wages.
  • The Internal Revenue Service may withhold your state and federal income tax returns.
  • The entire unpaid amount of your loan, including interest may become due and payable immediately.
  • You will lose your rights to deferments.
  • You will be ineligible to receive any additional federal or state financial aid.
College closed for Wednesday January 23 due to inclement weather. All Black Hawk College locations are closed and all classes canceled.