What will happen if I do not make payments on my student loan?
Your loan may go into default if you do not make your payments or you make late payments. If your student loan goes into default, your loan status will be reported to credit bureaus, which could damage your current credit rating and have lasting effects on your future ability to borrow money. Legal action can also be taken out that will require you to make payments via garnishment of wages. Download PDF
The Student Loan Assistance Counsel (SLAC) is a third party provider and is not associated with any government entity including the Dept. of Education. SLAC is a private organization specializing in Document Preparation, Submission, and Tracking. We offer a free counseling session to help identify which Federal programs are available to you. Our service consists of the Preparation, Submission, and Tracking of your Federal Student Loan Consolidation Documents. Consumers are not obligated to use a third party resource and may choose to complete their own documents for student loan consolidation based on the federal programs. SLAC does not provide services for debt negotiation, debt settlement or any altering of the current debt. Our services are strictly for the assisting in the completion, submission, and tracking of federal student loan program documents.