Was going through my credit reports and on one of my undergrad student loan accounts I had a balance past due of 120 days in 2011. This was because my school had switched to a new loan servicer and I wasn't notified of the change, so my payment was ~ 120 days late. I never called to dispute this on my report.
Will this screw up my eligibility for student loans?
Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Yes if you're more than 90 days behind on a debt and it has been reported than you can be denied a federal loan and then you'll need a consigner. Your best option is to clear up the debt and get it removed from your credit report ASAP. Once you pay your debt you are immediately no longer delinquent. You can also dispute the mark by explaining you were unaware services had changed. It doesn't take that long to clear up a dispute, but there are several pieces of information they need in order for it to be removed.