If you anticipate difficulty in making a loan payment, contact your lender immediately before the payment is due.

A loan may become past due if you miss payments, pay less than the amount due, or if you fail to submit information such as a deferment form. When a loan becomes past due, late charges are assessed, and the past due loan amount is reported to credit bureaus. A defaulted loan may also affect your access to UCSC services. Lenders may apply for tax offset through the California Franchise Tax Board to apply any tax refunds toward your overdue loan. You will also be responsible for any collection costs incurred by lenders during this time.

Should your loan enter default status, you should contact the appropriate lender as soon as possible.