Online payment via Account Access gives you the most flexibility in payment, such as: For example, the ability to segment payments for individual loans.
How to do Online Payment?
You can choose any working day (Monday to Friday) for online payment. Payments will normally be posted to your account within two business days of the date you selected. We can credit your payment to your account for a few days before you can view it online under Account Access.
Advantages:
- Pay at any time, day or night.
- Register your bank accounts for your next payments or pay with one of your registered bank accounts.
- Payment plan in advance.
- Additional direct payments for certain loans on MyFedLoan.
Due date of a weekend: Select a payment date at least 1 business day before the due date.
Pay extra: You have the option to request additional payments online or to request in writing that we re-apply for additional payments for certain loans. If you pay more, you can put your loans in prepaid status.
How to Pay by Phone?
Pay by phone: You can make a telephone payment at any time of the day or night by calling 1-800-699-2908 using our automated telephone system. All you need is your 10-digit account number and date of birth, which you must enter manually to identify yourself.
Advantages:
You can choose the date on which the payment should be made (within 60 days) if you know that the money is available.
Register your bank accounts for your next payments or pay with one of your registered bank accounts.
Important: Your telephone payment is automatically split between all loans in your account. For more information about using these payments, see our payment request examples.
Terms of payment:
You can choose any working day (Monday to Friday, except public holidays) for the telephone payment. Payments will normally be posted to your account within two business days of the date you selected. We can credit your payment to your account for a few days before you can view it online under Account Access.
Due Date on a Weekend or Holiday: Select a payment date at least 1 business day before the due date.
Overpayment: You have the option of requesting additional payments online or in writing and requesting us to re-pay additional payments for certain loans. If you pay more, you can put your loans in prepaid status.
