If you don’t make a payment on time or if you start missing payments—even one—your loan is considered delinquent and late fees can be assessed.
It is important that you try and resolve any student loan delinquency immediately. While it may be difficult to make that monthly payment today, it could be even harder to make up two months of payments next month. It is important that you contact HESAA or your federal loan lender NOW to discuss what to do.
When you miss a payment, your lender or servicer will contact you by phone, mail or e-mail to alert you of the missed payment. They may also notify HESAA should the delinquency persist. HESAA will also attempt to contact you to resolve the delinquency. Your school may also be notified.
It is important to address your delinquency since there are serious consequence of you student loan delinquency continues.