It's a common practice for teachers here to mark "Overdue!" on a student's assignment if he or she is late in handing it in. I wonder what the teachers in your country mark on the student's assignment it the same thing occurs there. Thanks.
Generally teachers will mark "late", "L" on the paper. I suppose they could also write "overdue" as well. Generally we use (where I am from) "overdue" to refer to bills such as a credit card bill "Its overdue! It's late! It's past due!" are examples. We use "belated" to refer to special events that we missed and are sending a gift or card late. "Belated anniversary" "Belated birthday" are examples.