Frequently Asked Questions

We will let you know your new payment amount. Unless you notify us of your intent to discontinue your Direct Debit service, we will withdraw this new amount (and any additional amount you have requested) automatically from your bank account on your scheduled extraction date.

If you want to change the additional amount you requested to pay each month, sign in to your Account. By managing your Direct Debit Agreement online, you decide which loans you want your additional amount to be applied to.

If your bank account information changes, you can update the bank account used to withdraw funds by signing in to your Account.

It's important you notify us, as it may be necessary for us to suspend any pending transactions in order to prevent a debit from an inactive bank account. Contact us at least 3 business days prior to your scheduled payment date.

To prevent an unwanted withdrawal while your deferment or forbearance request is being processed, contact us or sign in to your Account to suspend your Direct Debit service. We automatically suspend your Direct Debit service if your deferment or forbearance is approved.

At the end of your deferment or forbearance, your Direct Debit service will resume on your regularly scheduled extraction date, unless you notify us that you no longer want to participate in this service.

NOTE: You will not receive a rate reduction during any period of deferment or forbearance.

No. However, you can add these loans to your Direct Debit Agreement by signing in to your Account.

Please Note: New consolidation loans that are part of an existing consolidation group will be automatically added to your existing Direct Debit Agreement if the existing consolidation loans are already enrolled in Direct Debit.

You can suspend your Direct Debit service six times in a 12 month period.

You must contact us or sign in to your Account at least 3 business days before your extraction date to suspend your Direct Debit service. You must continue to pay every month using another payment method during the time we suspend your service.

You must contact us or sign in to your Account at least 3 business days before your extraction date to cancel your Direct Debit service.

NOTE: If you qualified for an interest rate reduction for using this service, that reduction will be removed once you discontinue Direct Debit.

If your final payment is less than your regular monthly payment amount, the final debit will be adjusted to only withdraw the remaining amount due.

If a loan enrolled in Direct Debit reaches a zero balance it will be removed from Direct Debit.

A consolidation loan is a single loan, and it must be serviced as one loan, even though you may see multiple portions because of different subsidy. If one portion of your consolidation loan reaches a zero balance and is removed from Direct Debit but a balance is later reinstated (due to an interest adjustment, new or changed disbursement, returned payment(s), reapplication, etc.), it may automatically be re-enrolled on Direct Debit depending on your signed Direct Debit agreement.