Student loans are a necessary evil and once you have one it is a fact of life that it has to be paid back. It is a great advantage being able to make payments online as you are in complete control as to how and when you carry out the transaction. You can set up payments in advance so as you don’t forget to make one and you can arrange it so as your banking details are saved for the next time you need to pay.
Making a Payment:
- You need to log into your account and in order to do that you go to www.myfedloan.org .
- You can decide how you want to make your payments and if it is a one off electronic payment it is a very fast process and due to the nature of the site also a very secure one.
- Sign into your account. When you set up your account you will have arranged the log in details you required and this must be used for every log in.
- There is a button marked “make a payment” and that has to be clicked before you can go any further.
- Fill in the details of the payment. This will be the account to be paid, the bank account the payment is to come from and also the amount to be paid. You should always know what you have to pay each month.
- Once this has been done it is possible to save the bank details so they are easy to access next time and you don’t need to have your check book or bank card with you.
- Click the “make a payment” button again and you have completed the transaction for the time being.
- If you don’t want to do this every month then set up a Direct Debit and you will not need to worry about making a payment every month.
There are few details that you need to remember and you are prompted each step of the way. It is a quick and easy to make your repayments