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How will my payments be applied to my Laurel Road Loan?

Standard Payment Application: Payment is applied first toward any outstanding late fees, next to outstanding accrued interest, then and finally to the principal balance.

Partial Payments: Payments less than the required monthly installment amount are applied using the standard payment application. Payments less than the required monthly amount may cause your account to become delinquent. We may report information about your account, late payments, missed payments, or loan defaults to consumer reporting agencies.