We know that life gets in the way sometimes and managing your finances can be challenging. Here’s some information on getting back on track.
Every loan has a grace period, a period of time after your due date in which you may incur a late fee. Review your loan statement to confirm your time frame. Note that during this time, you’ll still be accruing interest on your unpaid balance.
If you didn’t pay by your due date and the grace period has ended, you may be assessed a late fee. The late fee depends on your loan and lender. You can find the amount in your loan statement. If you don’t pay by the next due date, you’ll be one payment behind. Missed and late payments, along with on-time payments, will be reported to the credit bureaus.
Take a look at this help center article for your payment options. Note, if you ever have trouble making payments, please contact us. We’ll explore your options together.