Study: Better Than 2 of 5 Americans with Student Debt Fall 90 Days Behind

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Study: Better Than 2 of 5 Americans with Student Debt Fall 90 Days Behind

Apr, 8th 2017

You may have heard a few scary terms thrown around about late student loan payments: There's "delinquency," for example, which is any payment a day or more past due — though late fees typically won't kick in until after about 15 to 30 days.

And then there's default, which happens after nine months of missed payments, means your entire balance comes due, and often puts you on the hook for extra interest and costs.

But less talked about is debt payments that are three months late.

The truth is, it takes less than default to hurt your finances and your credit score: After only 90 days, your debt servicer starts reporting late payments to the three major credit bureaus.

That's scary because 41% of student...

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