If you miss too many payments on your student loans, you will be tagged with what is known as a defaulted student loan. This is not a good thing to have, as it affects your credit history negatively. What happens as you begin to miss payments on your student loans, the student loan company will contact you with a warning that you are past due. You will be given a certain amount of time to catch up on your loan payments. During this time, you are being watched carefully and your loan account will be flagged. If you miss another payment, whenever that is, you will then be considered to have a defaulted student loan.
Once you are tagged with a defaulted student loan, the student loan company will put a pause on your loan payments until you can catch up to become current. While your loan payments are on hold, they are still collecting interest, and you will have to pay back those missed months once you are out of a defaulted student loan. In addition, the student loan company will contact your credit companies, which will hurt your credit history well into your future. It is important to get caught up as quickly as possible when you are dealt a defaulted student loan so that your interest does not collect too much more into your debt.