Correct! - Question #9

4Failure to repay your loan as established in your consolidation agreement will result in  ___________________________.

Failure to repay your loan as established in your consolidation agreement will result in you defaulting on your student loan. It is your responsibility to ensure your loan is in good standing to avoid defaulting. If you default on your loan, action will be taken to recover the debt, which may including reporting you to a credit agency, covering monies through your income tax return, or taking legal action. It is important to note that while you are in default, the interest on your Canada Student Loan will continue to accrue.

(Source: 2003-2004 Information Guide, page 8)