Understanding Your Monthly Bill

About your monthly bill

Twenty days prior to your payment due date, we mail billing statements giving you plenty of time to make your payment.
An Interest Notice differs from a bill because you're not required to make a payment if your loan is in deferment, forbearance, grace, or in-school status; however, paying the interest prevents it from capitalizing (being added to your principal balance).
You'll know you have a regular monthly bill if INSTALL appears in the BILL TYPE column.

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Sample FedLoan Servicing billing statement

Select each "star" icon to learn more about the information on your bill.

Still have questions about your bill? Contact us.

Account Number

The 10-digit number assigned to you.

Use this number when making any type of payment or when contacting our office via telephone communication or written correspondence.
Date Billed

The date we print your bill.
Date Due

Make sure we receive your payment by 7:00 PM on this date so it can be posted to your account on time.

Also, avoid making payments on weekends and holidays because they may not be posted on the date we receive your payment.
Principal Paid Since Last Statement

Amount of your last payment that was applied toward your principal balance.

Your principal balance doesn't include interest.
Interest Paid Since Last Statement

Amount of your last payment that was applied toward your interest charges.

Paying more than the minimum amount every month, while remaining on your standard repayment plan, can reduce the interest you pay over the life of your loan.
Total Payments Received Since Last Statement

The total amount of your last payment.

This value is the sum of the principal, interest, and fees.
Bill Type

We have two different bill types: Installment (INSTALL) and Interest (INTEREST).

INSTALL means your payments occur in monthly increments and include both interest and principal. INTEREST means your payments occur in monthly increments and only include interest.
Amount Past Due

Total amount unpaid since your last bill.
Current Due

Total amount due for this billing cycle.

Paying ahead, or paying more than your monthly installment, can help you pay off your loans faster. To learn more about how to get started budgeting, visit our Budget Central page.
Total Principal And Interest Due

Total amount due for this billing cycle.

Paying ahead, or paying more than your monthly installment, can help you pay off your loans faster. To learn more about how to get started budgeting, visit our Budget Central page.
First Disbursed

The date the government released the loan funds.

We use this date to organize your loans.
Loan Program

This is your loan type.

It is useful if you ever decide to apply for another payment plan because different plans have different loan program requirements.
Status

This shows one of the possible stages of your loan life cycle.

Repay indicates that you're in the regular monthly payment portion.
Monthly Installment Amount

Shows the breakdown of your monthly payment for each loan.

The total of this column makes up your monthly payment amount.
Total Amount Due

The sum of the Current Due and any Amount Past Due broken down per loan.
Total Amount Due

The sum of the Current Due and any Amount Past Due.
Account Number

The 10-digit number assigned to you.

Use this number when making any type of payment or when contacting our office via telephone communication or written correspondence.
Date Billed

The date we print your bill.
Date Due

Make sure we receive your payment by 7:00 PM on this date so it can be posted to your account on time.

Also, avoid making payments on weekends and holidays because they may not be posted on the date we receive your payment.
Aggregate Amount Paid

The total amount paid to date on the loan, including amount paid toward interest, fees, and against the principal.