Terms, conditions and steps for delinquency:

• A loan that is being repaid becomes delinquent whenever a borrower fails to make a scheduled payment by the due date.
• The lender must attempt to make contact with the borrower both by written and telephone contact at specific stages during the student's delinquency.
• The lender may file a default claim with the guarantor of the loan once the delinquency has continued for 270 days for a loan repayable in monthly installments, and 360 days for a loan repayable in less frequent installments.
• Remind borrowers that if they encounter problems during the repayment period, they must ask the lender what options are available to keep the loan out of "delinquent" or "default" status.
• See sample delinquency letters:
  • Delinquency letter: 30-59 days delinquent.
  • Delinquency letter: 60-90 days delinquent.
  • Delinquency letter: 91-119 days delinquent.
  • Delinquency letter: 120-149 days delinquent.
  • Delinquency letter: 150-179 days delinquent.
  • Delinquency letter: 180-209 days delinquent.
  • Delinquency letter: 210-239 days delinquent.