A loan is considered delinquent after only one missed payment—but you can still recover
Missing a loan payment—even one—can be a costly mistake.
Your lender may charge a late fee if your payment isn’t received by the payment due date. But don’t make matters worse by missing more payments. Each missed payment makes it harder to catch up.
The most important thing you can do is contact your lender. They can help you get back on track.
If you don’t know who your lender is, go to the National Student Loan Data System (NSLDS), which is the central database for all federal student loan information.
What is delinquency?
A student loan is delinquent after one missed payment. Your lender can apply late fees and report missed payments to the national credit bureau agencies, which can hurt your credit score.
You can still resolve your delinquency. If you don’t, you will default on your loans. Learn about the consequences of default.
Don’t wait to ask for help
Even after you miss a payment, you still have options. But the longer you wait to find a solution, the harder it gets to catch up. Don’t ignore the problem. Contact your lender. They can help. And so can we.
- Assess your budget. Shifting your priorities can help you make your student loan payments. We can help you start budgeting.
- Lower your monthly payments. Federal student loans feature multiple repayment options so you can find a plan that fits your budget.
- See if you are eligible for a deferment. You may be able to have your loan payments put on hold. Find out how in our deferment section.
- Ask for a forbearance. A forbearance can temporarily postpone your payments.
Keeping your loans current is critical—the consequences otherwise can be severe. Don’t let your student loans go into default.
