by Judith Rene If you default on your student loan it can cause problems with your credit rating. The first step to avoiding defaulted student loans is to keep the lines of communication open with your lender. There are serious implications when you default on your student loan as it can affect your wages and possible tax refunds in addition to a poor credit rating. You may find it nearly impossible to If you follow a few simple guidelines you can easily avoid defaulting on your student loan. Brokers are the ones who help you find lending companies with the best mortgage rates. Brokers have a greater access into the best mortgage rate options posted by lending companies. This means that you get a wider selection of loan products and terms for you to decide which one has the best mortgage rate.