Stranger

Hello! I am new to this forum and I joined only because I need to ask something. I currently have student loan from a bank for which I believe my University is the guarantor. What's more, I also have a loan from my University which is based on a promissory note. Now, I am facing a difficult situation and there is possibility that I might default on both of my loans. Furthermore, I personally do not posses any assets (neither physical nor of any kind). What can happen to me if I default?