Direct Debit may be the most convenient way to make your student loan payments.
Direct Debit allows you to authorize an electronic deduction from your checking or savings account each month. The transaction happens automatically, so your payment is always on time, keeping your student loan account in good standing.
Make payments online anytime, day or night.
An online payment is a one-time deduction from your checking or savings account.
- Call to make payments anytime, day or night.
- Control the timing of the transaction, when you know the funds will be available in your bank account.
- Use either touch-tone service or voice response technology to make a payment.
- Write legibly to ensure electronic check processing systems can read the information accurately.
- Include your account number on your payment.
- Mail your payment 5–7 business days before your due date to make sure it arrives on time.
Contact your loan servicer for more information about ways to pay:
- Direct Debit helps you earn a good credit rating that will provide lifelong benefits.
- Some lenders offer an additional interest rate reduction after a specified number of on-time payments.
- No matter how you pay, you'll need to provide your account number and your nine-digit ABA number (also referred to as a routing and transit number), which identifies your financial institution.
- Not all lenders/loan servicers may offer all of these payment services.