ELECTRONIC PAYMENT

You can choose to receive your student loan statement electronically, make a student loan payment online through electronic debiting, or schedule a recurring electronic debit to pay your bill. Some loan holders will even reduce your interest rate as an incentive for paying by electronic debiting.

Your bank can automatically deduct your monthly loan payments from your checking or saving accounts; payments are forwarded to your loan holder for processing.

Electronic debiting is the most convenient and efficient way to make your student loan payments; you won’t have to remember to mail a check each month, and your loan payments will always be on time.

Perkins Loan Borrowers: To sign up for electronic debit, contact the school that holds your loan to see if it offers this service.
FFEL Borrowers: Contact your loan provider.
Direct Loan Borrowers: Enroll in electronic debiting online.