Private College Student Loan

Do late payments of student loans, that are less than 30 days, have a negative effect on my credit score?

I recently started a new job. During the time I was jobless I became one pay period (two weeks) behind with my budget. For the last month or two I have been two weeks late with each of my student loan payments. I have Sallie May and Great Lakes loans. Neither have been charging me a late fee, but i want to know if less than 30 days hurts my credit. I cannot seem to get a straight answer from anyone. Please IF YOU DONT KNOW THE ANSWER WITH 100% CERTAINTY DONT ANSWER THE QUESTION. I don't care about what you think or what your hunch is.

Public Comments

1. No. The credit reports can only show items that are 30 days or more passed due. Why don't you check your credit reports and see? They are free once a year (all 3) at Annual Credit Report.com No credit/ debt card required. Part of being an adult is checking those reports once a year
2. You are responsible for repaying your student loans even if you do not graduate, have trouble finding a job after graduation, or just didn't like your school. If you do not make any payments on your federal student loans for 270-360 days and do not make special arrangements with your lender to get a deferment or forbearance, your loans will be in default. Defaulting on your student loans has serious consequences. There are some differences between defaulting on federal student loans and private student loans. While federal education loans define a default as occurring after 270 days of non-payment, for private student loans a loan is considered in default after 120 days of non-payment. ++++++++++++++++++++++++ Typically, credit card companies only report payments that are more than 30 days late. However that is not guaranteed – technically a creditor can report any late payment at their discretion, even if it’s only one day late. Keep in mind that any payment that is 1 to 30 days late is still classified as a “30 days late payment” so it is well within their right to report it if they want. Although it’s very unlikely, while you are on the phone with customer service I would recommend asking if your credit card payment will be reported to the bureaus even though it’s only one day late. Your payment is due upon reciept and it's a 30-day billing cycle. Therefore the due date IS that 30th day. If you pay AFTER that date, you are, technically, 31 days late and they will report that late to the bureaus.