General Question

letmeknow17's avatar

What's going to happen since I missed first deferred payment deadline?

Asked by letmeknow17 (94 points ) July 19th, 2011

My college’s deferred payment deadline was July 1st and I received a message saying the Fall 2011 payment deadline was July 15. I’m a little confused because on my school’s site it say payments are due Aug 1st. But if these days are mixed up and I was suppose to make my first payment July 1st, do you know what’s likely to happen at this stage? Will I still be able to make the payment with an obvious late fee, what other consequences are there?

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6 Answers

mrrich724's avatar

There may or may not be a late fee (student loans are a little different, and sometimes more lenient than regular loans).

But you will probably want to pay it ASAP to keep your account in good standing. You may want to get the dl.ed.gov to consolidate it (to lower your payment and/or lock in/discount your interest rate), and I think if you miss too many payments, the dl.ed.gov won’t consolidate for you…

check it out. You may want to consider it if you haven’t already!

Blueroses's avatar

Talk to somebody in the Financial Aid office asap. You really want to stay on top of student loan payments because it plays a huge part in your credit score. If it was your first payment, they will probably give you a break this time but be sure you understand well when each subsequent payment is due.

letmeknow17's avatar

This payment isn’t for loans; its for my housing and meal plan.

SavoirFaire's avatar

If there is really contradictory information floating about, you have ground on which to fight any late fees. Call whatever office the payment is supposed to go to and explain that you have been given conflicting due dates. Say that you wish to confirm that 1 August 2011 is the correct date. If they confirm this, no problem. If they say that the payment was due 1 July 2011 or 15 July 2011, ask them what you can do to get your account in good standing right away.

Since this isn’t a student loan issue, there might not even be a late fee. If they do try to charge you a one, however, explain to them that you have been very diligent about keeping abreast of all the relevant information regarding this payment, and it is only just now—after the due date has passed—that you were notified of a different date. Make sure to get in touch with them as soon as possible so that your housing assignment is not given to someone else.

Seaofclouds's avatar

Your school most likely has several different due dates for different types of payments (like the deferred plan vs people paying in full). They may also have payment dates broken down for different things (such as a deadline for registration vs a deadline for housing). Call your school ASAP and get it taken care of. Since you said this was for housing, it could mean that they took you off the housing list and you may not currently have a place to live (if their space is limited), so you should get it taken care of really soon.

Hibernate's avatar

Get some legal advice here ^^

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