I am still in school. Why am I getting a bill?
Look at the bill type on your billing statement.
|If the bill type shows…||Then you're receiving a bill because…|
|Interest||You requested to pay interest while you are in school.|
We haven't received information that you're currently attending a U.S. Department of Education–approved school at least half time.
We typically receive enrollment information directly from your school. However, sometimes we don't receive enrollment information until a few weeks into the semester. If you're unable to make payments and want to suspend them until we receive the appropriate information from your school, contact us.
Will you postpone my loan payments automatically while I am in school?
We will automatically postpone your payments if you are enrolled in school at least half time. Although we make every attempt to verify your enrollment through multiple sources, it's possible that the information we receive is not always up to date.
If you think that we have incorrect enrollment information for you, ask your school to send us an "official" enrollment verification on school letterhead. We will postpone your payments as soon as we receive this verification.
What is the National Student Loan Clearinghouse?
The National Student Clearinghouse is a non-profit organization that works with more than 3,300 colleges and universities across the United States to provide trusted and secure educational reporting for:
- Students—You can get copies of your transcripts, verify your enrollment, check the status of your student loans, and more.
- Student loan servicers—We can stay up to date on your enrollment status so we can better prepare for the time when you must start making loan payments. We can also anticipate if you may need to postpone your payments.
To find out if your school participates, contact your school's Registrar's Office or visit the Clearinghouse website and select the "Full list of participating schools" link under the Clearinghouse Schools heading on the homepage.
I am no longer a full-time student. How many classes must I take to continue to postpone my student loan payments?
If you are enrolled in school at least half time, you can usually postpone (defer) payments on your federal education loans. Contact your school to determine what they consider to be full-time, half-time, or part-time enrollment.
Be aware that you may not be able to postpone payments if:
- Your loan was first disbursed before July 1, 1987.
- You attend a school that is not approved by the U.S. Department of Education.
Contact us if you are not sure if you are eligible.
Does interest accrue on my loan while I am in school?
Yes. Interest accrues on your loan, but you may not be responsible for paying it. It depends on the type of loan you have.
- Subsidized loans—The government pays the interest that accrues while you are in school.*
- Unsubsidized loans—You are responsible for paying the interest that accrues, although you can choose not to pay it while in school. Any interest that you do not pay will be added to your principal balance (through capitalization).
* NOTE: If you are a first-time borrower on or after July 1, 2013, you could potentially lose the subsidy on your subsidized student loan if you do not complete your degree or certificate within 150% of the "normal time" allotted for completing the program in which you are enrolled.
The loss of subsidy would continue through periods of enrollment and any grace or deferment periods.
I am still in school. Why haven't I received any bills or notices regarding the interest on my loan?
Unless you specifically requested to be billed for the interest on your loans, we will send only one interest notice to you approximately 20 days before your grace period ends.
If you want to find out how much interest has accrued on your loans or make interest payments, sign in to Account Access, our online account management tool.
I am a parent with a Federal Direct PLUS Loan. Can I postpone payments while my student is in school?
In general, you must start making payments on a Federal Direct PLUS Loan within 60 days of the final disbursement date. However, if your loan was first disbursed on July 1, 2008 or later, you may be able to postpone payments until 6 months after your student leaves school.
Submit a Parent PLUS Borrower Deferment Request (PDF) or call us at 1-800-699-2908. You can submit this request even if the loan has not yet been fully disbursed.
Please note, if your student is still in school, we do not automatically postpone payments for you unless you specifically requested we do this when you signed your MPN.
I was too busy to even think about my loans while I was in school. Is there something I should do now that I'm leaving school?
There are a few things you can do when you leave school to prepare to pay back your loans.
|Create an online account.||
If you have not yet done so, create an account through Account Access, our online account management tool.
|Update your contact information.||
If your contact information has changed, make sure we have the correct contact information for you.
|Verify your enrollment status.||
The National Student Clearinghouse keeps us up to date on your current enrollment status, if your school participates, so you may want to verify they have the correct information on file.
|Choose a payment plan.||
Your loan will be placed on a standard repayment plan unless you request otherwise. Take time to make sure this is the best payment plan for your financial situation.
When must I begin paying back my loan? Do I get a grace period?
- If you have a Direct or Stafford Loan (subsidized or unsubsidized)—You get a 6-month grace period that begins the day after you graduate, leave school, or drop below half-time status. You must start making payments as soon as your grace period ends.
- If you have a PLUS Loan for Graduate and Professional Students—You can postpone payments while you are enrolled at least half time. If your PLUS Loan was first disbursed on or after July 1, 2008, you can also postpone payments for the 6 months after you graduate, leave school, or drop below half-time status.
- If you have a PLUS Loan for Parents—If your loan was disbursed before July 1, 2008, you must start making payments within 60 days of the final disbursement date. However, if your loan was disbursed on or after July 1, 2008, you can request to postpone payments while the student for whom you obtained the PLUS Loan is enrolled at least half time. You may also request to postpone payments for the 6 months after the student is no longer enrolled at least half time.
How much will my payments be?
We will send a Repayment Obligation to notify you when it's time to start making payments on your loan. This document details the amount of your monthly payment, the projected amount of interest you will pay in total, your principal balance, and more.
To estimate your monthly payment amount, enter your loan details in our repayment estimator. You can find your loan details in Account Access, our online account management tool. (You'll need to create an online account if you haven't already done so.)
How do I make payments to FedLoan Servicing?
We accept the following methods of payment:
Simply designate a checking or savings account, and we automatically deduct your loan payment on the same day each month.
Make a one-time payment through Account Access.
|Smart Phone Payment||
Make a one-time payment from your smart phone.
Call our automated phone system and provide your account number and your bank's ABA (routing and transit) number.
|Check or Money Order||
Send your check or money order (include your account number) to:
U.S. Department of Education
I can't afford my full payment amount. What are my options?
If you're having trouble making your payments, don't wait until you fall behind to seek assistance. We have options that can help.
I am currently making payments on my loans. Can I postpone my payments when I return to school?
If you are enrolled in school at least half time or will be enrolled soon, submit an In-School Deferment Request (PDF) to postpone your loan payments, or call us at 1-800-699-2908.
My loan payments were suspended during the spring semester. If I'm returning to school in the fall, will you automatically suspend my payments over my summer break?
If you never started making payments on your loan, your 6-month grace period will start when you begin your summer break. You do not need to make any payments during the grace period, and we will automatically postpone your payments when you return to school in the fall.
If you already used your full grace period and started making payments on your loan, you may be eligible to postpone payments, but you must request to do so; we will not automatically postpone payments for you. To request that we postpone payments over your summer break (or during a winter break):
- You must have been continuously enrolled the entire previous semester.
- You must return to school at least half time for the next semester.
If you meet these criteria, contact us by phone at 1-800-699-2908 or in writing at the address below to request this postponement:
P.O. Box 69184
Harrisburg, PA 17106-9184