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Payments
Borrowers
who are successful in repaying their student loans develop the habit of making their monthly payments on time. We know that is easier said than done, but there
are steps you can take that will help you develop that habit:
 | Enhance Your Employment.
You may be working full-time, and are, therefore, not eligible for an unemployment deferment. But it is also possible that you are not being paid what your worth. There
are a number of excellent Internet sites that can help you Upgrade
Your Employment.
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| Make a Budget.
If you have not made a monthly budget that includes your student loan payment, visit
our Budget
Help page.
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| Automate Your
Payments.
We strongly recommend arranging to make your student loan
payments by automatic monthly deductions from your checking account. This
removes the hassle of writing and mailing a check each month. It also removes
the temptation of using your funds for something else. It may also make
repayment cheaper for you.
Many lenders and servicers offer interest rate deductions to borrowers who make their payments this way. Your lender or servicer may also offer a rate reduction if you remain current for a specified period.
The surest way to remain current is to make automatic payments. Contact
your lender or servicer today to arrange automatic monthly payments. Click here
for a list
of servicers and contacts.
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If you find that you are
now able to start or resume making payments to your account, but feel that it will be difficult to make up the past due amount,
you make wish to request a Forbearance
from your lender or servicer.
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