This story just might scare you. But the sad truth of it is that it could happen to anyone. If your a lawyer, nurse, doctor, dentist, veternarian. Imagine losing your career if you fell behind on your student loan payments.
In 22 states it’s a sad reality. Here are the 22 states where if you are in default they yank your license.
Shannon Otto graduated nursing school when she was just 18 years old. It was the Tennessee woman’s dream job.
Then, suddenly at age 32, she started having seizures and was diagnosed with epilepsy. Unable to work, she stopped making payments on her student loans.
“I got a really scary court-certified letter,” Otto said.
The letter from the State of Tennessee said her nursing license had been suspended, and she had to start paying her loans in full or she wouldn’t get it back. – Source
Currently a number of student loan advocacy groups are currently working on local and national legislation that would make it impossible to lose your license. Let’s hope they make that a reality. In the meantime we strongly recommend refinancing your student loans, or looking into student loan forgiveness programs.
Imagine A Life Without Student Debt Payments
Erase Your Student Loans
Through student loan refinancing, borrowers can refinance high-interest student loan debt and potentially score a lower rate, saving thousands of dollars in interest over time. Those savings can then go toward extra payments to get out of debt even faster. Additionally, borrowers can select a longer term to obtain a lower monthly payment as well.