Both private student loans and federal loans can go into default status. Though the consequences can vary based on loan type, one thing is certain — a student loan default can negatively impact your finances and credit score and should be avoided if possible.

Our research, news, ratings, and assessments are scrutinized using strict editorial integrity. Our editorial staff does not receive direction from advertisers on our website or our Partnerships Team. Our company may receive compensation from partners seen on our website. Here's how we make money.