Failure to pay back the money in installments will lead to serious consequences, that is, credit damage. Education by stages is a financial arrangement. If you don't repay the loan on time, you will violate the contract and may cause the overdue payment record to be reported to the credit institution. This will have a negative impact on personal credit score and reduce credit rating. Credit damage will make it difficult for individuals to apply for loans, credit cards and rent houses in the future, and may even lead to rejection or need to pay higher interest rates.