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Financial Planner

Category - Education Planning

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Which of the following can be a consequence of not paying a student loan debt?

Federal and state taxes can be offset to pay a portion of the debt
The student can lose eligibility for further Federal student aid
The student’s wages can be garnished
All of the above

Explanation

Answer: D - The consequences of defaulting on, or not paying, a student loan can be severe. They can include reports to the credit bureaus, the loan being called due immediately, tax refund offsets, and loss of eligibility for Federal student aid and services, and wages can be garnished.

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Financial Planner

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