Paying loans electronically
Having trouble remembering the payment due date on your student loan? Always one stamp short? Make things easier on yourself: Pay your student loans by automatic debit or online billing.
Automatic debit
Sallie Mae’s automatic debit is the most convenient way to make your education loan payments on time!
There are no checks to write, no stamps to buy, and no late payments. Your monthly education loan payment is automatically deducted from your checking or savings account.
Log in to Manage Your LoansSM to sign up for automatic debit and take 0.25% off the interest rate on eligible loans.
Loans eligible for the automatic debit benefit
Loans taken through certain Sallie Mae lenders are eligible for the automatic debit interest rate reduction—Direct RepaySM—and must be owned and serviced by Sallie Mae or owned by Sallie Mae and serviced by a participating servicer.
Your savings through Direct Repay is available on the following loans:
- Stafford loans first disbursed through June 30, 2002.
- PLUS loans first disbursed through June 30, 2008.
- MBA LOANS® Private LoanSM (formerly MBA LOANS® Business Education LoanSM and Tuition Loan Program [TLP] LoanSM), LAWLOANS® Private LoanSM and Bar Study Loan® (formerly LAWLOANS® Law Student LoanSM), and Signature Student loans® first disbursed through May 31, 2002.
- MEDLOANS Alternative Loan Program (ALP) loans first disbursed April 27, 1999–May 31, 2007.
- MEDLOANS MEDEX loans first disbursed July 1, 1995–July 31, 2003.
- SMART LOAN® Accounts applied for before February 1, 1999. Also available on SMART LOAN Accounts disbursed on or after July 1, 2002. To be eligible for this benefit, your initial consolidation balance must be at least $7,500.
Sallie Mae reserves the right to modify or discontinue loan programs at any time without notice. Other terms and conditions apply.
Monthly online billing
With online billing, you can submit a one-time payment, schedule future payments, and receive monthly payment reminders by email. Log in to Manage Your Loans to sign up for online billing on eligible loans.
Upromise Loan LinkSM
Student and parent borrowers who join Upromise® can link their Sallie Mae® loan account to their Upromise account and use their Upromise rewards to help pay down their eligible Sallie Mae-serviced student loans.
Upromise members can turn everyday spending into savings for education by shopping with participating companies who contribute a portion of their qualified spending into their Upromise account. Once borrowers become Upromise members, they can invite family and friends to join and contribute their rewards to the borrower’s Upromise account to increase savings. Simply go to www.salliemae.com/
upromise and enroll today.
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