If you don't pay your student loans, several financial consequences can occur:

• Delinquency and default: Loans become delinquent if you don't make payments for a certain amount of time. If the delinquency continues, the loan goes into default.

• Credit score impact: Delinquency and default can both lower your credit score. This can make it more difficult to get credit cards, car loans, or mortgages in the future.

• Collection efforts: A collection agency might contact you about your missed payments digitally, by mail, at your place of work, or in person.

• Legal action: A lender or collections agency can take you to court and try to recover the money you owe.

• Wage garnishment: For federal student loans, the government can take a portion of your paychecks.

• Loss of eligibility for benefits: You may lose eligibility for federal benefits like deferment, forbearance, or additional federal student aid.

• Increased loan balance: Interest and late fees can build up, which will increase the total amount you owe.

If you're struggling to make payments, contact your loan provider to explore options like deferment, forbearance, or adjusting your payment plan.