[Jhoinsmath]

I have about $60k in student loans. I only worked a few years after graduation and am now staying home with my 3 kids. I don't see how I can go back to work anytime soon as all my kids are 2 and under and won't be in school anytime soon. We can't afford to pay on my loans with my husband's salary.

They have been on deferment for soooo long.

So what happens if I don't pay them? I know my interest keeps going up and up and up.

I'm not looking for advice telling me to go to work. It is not an option for us at this time.

Thanks

[Kathy.Alar]

not paying them at all will cause all kinds of credit problems since they were unsecured loans. Better to work out some very low-cost monthly payment even if the terms are over many years. You may never pay it off but at least you will show up on FICA as paying regularly

[massloan]

There are a number of consequences that you’re most likely to face, but it’s always good to know them before you decide that you want to ignore your loans,like-
1.Your credit score is going to drop.
2.They won’t go away.
3.Your wages will be garnished