What goes on Once You Default on the Education Loan? You’re not alone if you’ve ever worried about defaulting on your student loans. Utilizing the typical 2016 university grad with debt to your tune of $37,172 and wages that are chronically stagnant new graduates, it is no surprise so many people are worried about checking up on monthly premiums. But exactly what does “default” really mean? Exactly How later does a repayment need to be before you begin to experience severe consequences? Let’s stroll through the standard schedule both for federal and student that is private, and then speak about the way you prevent the D-word entirely. Defaulting on your own federal student education loans Day after one Your federal student education loans are thought “delinquent” your day once you skip a repayment.