Missing a payment?

[Skye12329]

So i strive really hard to never miss a payment on anything. Well i will be graduating school soon and my student loans total close to 50k. I am very nervous since i don't know how much the monthly payments will be and how everything works. I am wondering does payments work like a CC, so in the event i accidentally miss a payment, does it need to wait 30 days before reporting as late? Or is it automatic late 30+ days?

[InvincibleSummer3]

---

@Skye12329 wrote:

So i strive really hard to never miss a payment on anything. Well i will be graduating school soon and my student loans total close to 50k. I am very nervous since i don't know how much the monthly payments will be and how everything works. I am wondering does payments work like a CC, so in the event i accidentally miss a payment, does it need to wait 30 days before reporting as late? Or is it automatic late 30+ days?

---

It will work like a credit card, but it's best to be proactive. You'll have an exit counseling option (you can do it via the NSLDS website, if I recall correctly). Or if you were feeling supersassy - talk to the Financial Aid office at your school. They should be able to tell you who will be servicing your loan (if that's been assigned) and point you in the right direction. Congratulations on attaining your degree! 

[Dw4250]

Hi Skye- In the same boat...finishing grad school in August with ~ 50k in loans. If you log onto the student loan web site (I assume you have govt loans?), there is a tool on there to estimate your monthly payments based on which repayment option you choose.

Congrats!