Regardless of the repayment plan you choose, you’re expected to make your monthly payments on time. If
you make a payment after the due date, your loan servicer may charge a late fee in accordance with the
terms and conditions of your promissory note.

Late payments may be reported to credit bureaus and could damage your credit history. Also, if you’re
repaying under an income-driven repayment plan and are planning to apply for Public Service Loan
Forgiveness, only payments that you make on time (within 15 days of the payment due date) can be counted
toward the required 120 payments.

For more information go to the Income-Driven Repayment Plans: Frequently Asked Questions Website