Delinquency vs. Default
Delinquency
Delinquency means that you have missed one or more scheduled payments on your loans. If you miss a payment one month, and then send only your regular monthly payment the following month, you are still delinquent. If your loans become two payments (60 days) past due, then your delinquency will be reported to your guarantor.
Default
If your delinquency continues until you become 270 days past due, then your loans are in default. A default claim is filed with the guarantor, and your loans are placed in collection. Your guarantor will then begin collection on your loans. Read about the consequences of default for more information about defaulted loans. |
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Oregon Student Assistance Commission
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