All lenders charge a flat fee when you miss a repayment – it’s more to cover admin costs than anything else. Lenders differ, but you can expect to pay anything between $10 and $40 for missing a payment, so it’s important to try and avoid that by budgeting and planning wisely. If you do think you’re going to have an issue, make sure to contact your loan provider and discuss that – they’re typically keen to avoid problems and will likely help you avoid incurring unmanageable expenses.