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Few days late on student loan payment

2Xtreme21

2Xtreme21

Diamond Member
Will it have any huge negative effect? I forgot all about paying one of mine as it's the only one not automatically withdrawn (paper work to make direct withdrawals is sitting on my desk, but I keep forgetting to send it in). Didn't get any notice, but I logged in this morning to see it was due on the 8th. I paid what was due in full and it didn't say any late fees were being assessed, but it did say it was 6 days delinquent. Do they report to the credit bureaus for loans whose payments were a few days past due?
 
They may report it to their internal collections department but chances are they don't report on your credit until 90 days delinquent with multiple attempts to contact and no payment from you. You could always call them and ask or read your loan doco.
 
As long as you pay before it's 30 days late, it won't have a negative effect, other than a possible late payment fee, which would most likely be negligible compared to your balance.

Auto-pay FTW.
 
I know that with Sallie Mae it takes 30-45 days before they report it. I have been fighting with them for the past few weeks. I switched employers so didn't get paid for 2 weeks, which threw me off like nobody's business, then I moved the next month, so money was tight. Every time I would call in to talk to them, I go a different answer regarding how much money was owed.
 
For the last 7 years, I've paid my student loan around the date it was due and nothing has ever happened when late.
 
Pfffttt, don't worry about it. I'm always late in paying my student loan, and have only gotten letters saying I was late. Don't think it matters as much as paying your credit card payment late, for example.
 
I have loans through Firstmark and when I get the statements there's a due date and then a late date a month later. If you go past the late date, the payment is five dollars more. I've paid a week or two late before and it's never shown up on my credit report.
 
My advice would be to round up to a comfortable number when you pay.

My loan payment was $79 so I always sent $100, and within a few months I was a month ahead. I didn't miss the money at all and the amount I was ahead kept growing.
It's nice to get that bill and see $0 due every month.

Now I'm down to $200 left on a $12000 loan. I'm going to pay off 2 years early.
 
I think most student loans institutions will be happy if they actually receive payments now....lots of them even waive the late fee now because they just want you to pay up.
 
2Xtreme21 said:
Will it have any huge negative effect? I forgot all about paying one of mine as it's the only one not automatically withdrawn (paper work to make direct withdrawals is sitting on my desk, but I keep forgetting to send it in). Didn't get any notice, but I logged in this morning to see it was due on the 8th. I paid what was due in full and it didn't say any late fees were being assessed, but it did say it was 6 days delinquent. Do they report to the credit bureaus for loans whose payments were a few days past due?
Click to expand...

Pack what crap you can and get out of your house asap. Time to live off the grid while hiding from the organ repos.
 
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