Fast Fact

In households with internet access, paying bills online is now more popular than writing paper checks.

Source: Consumer Bill Payment Survey, 2007

Ways to Pay

Direct Debit

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.

Benefit Details
Save money.
  • Direct Debit is usually a free service.
  • No late fees! Since your loan payment is electronically withdrawn from your bank account, it's always on time.
  • You don't need to pay for checks, stamps, or envelopes.
Save stress.
  • There's no stress if you procrastinate. Automatic payments mean you are never late (as long as the funds are available in your bank account).
Save time.
  • No more wasting time by writing checks. Your time is valuable.
  • There's no need to make a trip to the post office to mail your payment.
  • You don't even need to sign in every month to make your payments.
Save trees.
  • No more paper bills means you're helping the environment.
  • Going green helps cut pollution, reduce solid waste, and save trees, water, and energy.

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Online Payments

Make payments online anytime, day or night.

An online payment is a one-time deduction from your checking or savings account.

Benefit Details
Control
  • Schedule payments in advance.
  • Control the timing of the deductions to ensure that you have the funds available in your bank account.
Flexibility
  • Pay online this month. Pay by phone or by check next month. Choose the payment method that works best for you each month.
Speed
  • Your payment won't be late if you make it online.

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Pay by Phone

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Pay by Check or Money Order

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Contact your loan servicer for more information about ways to pay:

  • For AES loans: Go to www.aesSuccess.org.
  • For FedLoan Servicing loans: Go to www.myfedloan.org.
  • For all other loans: Go to your lender's or loan servicer's website or contact them by phone.

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