What are the results if you default on student education loans

The Department of Treasury’s Bureau associated with the Fiscal Service (BFS) problems IRS taxation refunds and Congress authorizes BFS to conduct the Treasury Offset Program (TOP).

Through the very best system, BFS may lower your reimbursement (overpayment) and offset it to pay for:

  • Past-due kid help;
  • Federal agency non-tax debts;
  • State income taxation responsibilities; or
  • Particular jobless compensation debts owed to a situation (generally speaking, they are debts for (1) settlement paid because of fraudulence, or (2) contributions because of a state investment which weren’t compensated). More