Yes, Climb charges a student a late fee after a 15 day grace period. Once this grace period is over, Climb will charge either $5 or a 5% - whichever is the least amount!
If a student is having difficulty making payments, you can encourage them to reach out to Climb to ask about our deferment options and even getting late fees waived.
Note: If a student is on a remittance product (Approval Booster or 0% Interest), Climb will send the school the full payment including the late fee. Afterwards, Climb will invoice the school for the late fee.