Wondering ways to get away from education loan standard and delinquency? If yes, then read exactly about the meaning, effect, repayment period of time, and much more on federal loans.
Delinquency and standard are a couple of edges of this exact same coin except when it comes to value which changes both for.
You are delinquent on the loan payments when you become late on a student loan payment be it by 1 day or a week then.
But the concept differs from the others with regards to involves a continuing procedure for being delinquent or long-standing delinquency also if they are late even by a day for a regular number of months, it turns your delinquent loan into a defaulted loan though you have been making payments but.