Private College Student Loan

What happens if I'm unable to pay for my PRIVATE sallie mae student Loans?

Public Comments

1. Assuming you are working, then for any sort of Sallie Mae student loan that goes into default, they have direct power to garnish your wages at up to 15%. - As with any loan that goes into default, you'll have damaged credit. - Sallie Mae student loans will always have to be paid back and cannot be discharged in bankruptcy.
2. not sure what you mean by "private" as usually people will say it's either collateralized or not. anyway, any time you don't pay your bills they will offset your IRS refund and garnish your wages. They used to put liens on a car and house but I think they were sued for doing so. That leaves them able to lien on a bank account and retirement account.