Interest Bill

About your interest bill

Unlike a regular bill, you have the option to receive an Interest Bill while your loans are in deferment, forbearance, grace, or in-school status.
Making Interest Bill payments prevents accrued interest from capitalizing (being added to your principal balance) before you start receiving regular monthly bills.
We mail Interest Bills 20 days prior to your payment due date if you decide to pay your interest while in deferment, forbearance, grace, or in-school status.
You know you have an Interest Bill if INTEREST appears in the BILL TYPE column.

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Sample FedLoan Servicing interest billing statement

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

Still have questions about your notice? 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

This is an example of our INTEREST bill, meaning 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

We send Interest Bills while your loans are in deferment, forbearance, grace, or in-school.

This is an example of a FORB Interest Bill.
Accrual Period Begin and End Dates

You accrue interest between these two dates.
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.