What happens next?

How to manage your loans
Prioritize repayment.
If you already have debts, classify them into categories based on which ones to get rid of first. The best way to do this is by rating them on the interest rate and how much the assets purchased with the debt appreciate in value.
You will have figured out that student loans and housing loans come in the least risky class because their value appreciates with time and interest rates are not exorbitant. Automobile loans come next because their value depreciates in time and the interest rates are higher.