Are Private student loans the same as federal student loans if you default?
Asked by This is the life...Favorite Answer
Answered by Maggot
No they are not. Federal student loans have lower interest rates and have direct federal backing. They will come after your income tax return if you are delenquent of paying student loans. Private student loans are the same as any other loan. They do have some federal provisions but they are still a private loan and the company may come after you as with any other loan.
No they are not. Federal student loans have lower interest rates and have direct federal backing. They will come after your income tax return if you are delenquent of paying student loans. Private student loans are the same as any other loan. They do have some federal provisions but they are still a private loan and the company may come after you as with any other loan.
