Auto Debit

We will notify you by mail or by email of the date on which KwikPay¹ will begin drafting. The date depends on your current monthly due date and the date you sign up for KwikPay. Your loan may be placed on a forbearance until your first payment is scheduled to draft. Note that your payment will only be drafted if your account is in repayment and will not draft if your account is in a deferred status.

Yes. In most situations, we will place a General/Hardship Forbearance on your account to bring it current prior to the first KwikPay debit. Unpaid interest will be capitalized (added to your principal balance) at the expiration of the forbearance. You will not be eligible for a General/Hardship Forbearance if you have exhausted the maximum of 36 months of forbearance time. We will notify you when your account has been set up for KwikPay or if your account did not qualify. Note that your payment will only be drafted if your account is in repayment and will not draft if your account is in a deferred status. Please continue to make your payments, either online, by mail, or by phone, until payments begin drafting automatically.

Yes. If you would like to pay more, simply enter the additional amount to be debited in the "Additional Amount" field when registering or when editing your KwikPay settings in the Manage My Account borrower portal. Note that the extra amount will be automatically applied proportionately to all loans and cannot be targeted to a specific group. If you wish to make extra payments toward a specific group, you may do so manually online through Manage My Account.

NOTE: If you target an extra payment to one or more group(s), it may pay that group ahead (i.e. you may advance the due date of that group) and affect the application of future payments. If you have multiple groups and are on KwikPay, our servicing system will attempt to keep the due dates of your groups aligned. If a group is paid ahead, future payments will be applied to the other groups rather than to each group's minimum installment. If you wish that an extra payment not pay ahead your account, please contact us after an extra payment is made to request that we remove the paid ahead status. If you are paying more than twice the amount of a group's installment, you may select the "do not advance due date" option within Manage My Account to prevent the group from being paid ahead. ² If the subsidized and unsubsidized portions of your consolidation loan are grouped together, you can contact us to request the extra payment be targeted to either the subsidized or unsubsidized portion.

You can cancel or make changes to KwikPay at any time by logging into your online account at Manage My Account. In the navigation menu at the top of the page, select "Payments" then "KwikPay."

The ability to cancel or change a payment scheduled for automatic debit will depend on your current monthly due date and the date you are canceling or changing KwikPay. We must receive notification at least ten (10) business days prior to the payment's due date to allow adequate time for processing a cancellation or change. You will receive a confirmation letter that indicates the date of the cancellation or change. You are responsible for remitting any payments that are not automatically debited due to your requested cancellation or change.

Your payments are generally drafted on your due date but if that date falls on a weekend or holiday, the payment will be deducted the next business day.

We will attempt to draft the payment and your bank may reject the request due to insufficient funds. You will then need to manually make that payment to keep your account current. Multiple occurrences of insufficient funds may result in the termination of your KwikPay agreement, additional fees and/or loss of an interest reduction incentive.

All payments are applied to any fees due first, then to interest, then principal unless your current repayment plan is Income-Based Repayment (IBR). During IBR, your payments would first be applied to interest, then to fees, then to principal. If you send in a payment greater than the minimum amount due, the additional amount will be applied to your principal balance after all outstanding fees and interest is satisfied. If you have multiple loans, the payment will be applied according to each loan's monthly installment amount.

NOTE: If you target an extra payment to one or more group(s), it may pay that group ahead (i.e. you may advance the due date of that group) and affect the application of future payments. If you have multiple groups and are on KwikPay, our servicing system will attempt to keep the due dates of your groups aligned. If a group is paid ahead, future payments will be applied to the other groups rather than to each group's minimum installment. If you wish that an extra payment not pay ahead your account, please contact us after an extra payment is made to request that we remove the paid ahead status. If you are paying more than twice the amount of a group's installment, you may select the "do not advance due date" option within Manage My Account to prevent the group from being paid ahead.² If the subsidized and unsubsidized portions of your consolidation loan are grouped together, you can contact us to request the extra payment be targeted to either the subsidized or unsubsidized portion.

No. Payments are distributed across all of your active loans according to each loan's monthly installment amount.

NOTE: If you target an extra payment to one or more group(s), it may pay that group ahead (i.e. you may advance the due date of that group) and affect the application of future payments. If you have multiple groups and are on KwikPay, our servicing system will attempt to keep the due dates of your groups aligned. If a group is paid ahead, future payments will be applied to the other groups rather than to each group's minimum installment. If you wish that an extra payment not pay ahead your account, please contact us after an extra payment is made to request that we remove the paid ahead status. If you are paying more than twice the amount of a group's installment, you may select the "do not advance due date" option within Manage My Account to prevent the group from being paid ahead. ² If the subsidized and unsubsidized portions of your consolidation loan are grouped together, you can contact us to request the extra payment be targeted to either the subsidized or unsubsidized portion.

Yes. You can make one-time payments at any time online, through the mail, or over the phone.

NOTE: If you target an extra payment to one or more group(s), it may pay that group ahead (i.e. you may advance the due date of that group) and affect the application of future payments. If you have multiple groups and are on KwikPay, our servicing system will attempt to keep the due dates of your groups aligned. If a group is paid ahead, future payments will be applied to the other groups rather than to each group's minimum installment. If you wish that an extra payment not pay ahead your account, please contact us after an extra payment is made to request that we remove the paid ahead status. If you are paying more than twice the amount of a group's installment, you may select the "do not advance due date" option within Manage My Account to prevent the group from being paid ahead.² If the subsidized and unsubsidized portions of your consolidation loan are grouped together, you can contact us to request the extra payment be targeted to either the subsidized or unsubsidized portion.

An adjustment may have been made on your account since last month's payment was drafted. For example, a loan may have been paid in full or if you are on the Graduated Repayment Plan, you may have graduated to the next payment level.

If your account was past due at the time you requested KwikPay, and it was not brought current with a forbearance, you may need to make a manual payment to bring your account current. Your bank may also reject a payment for non-sufficient funds or for an invalid account number which may cause your account to become past due. Any past due amount will not be drafted automatically and will need to be made manually either online, by mail, or by phone.

If you were already enrolled in auto-debit payments with the Direct Loan Servicing Center, the bank account information used was transferred to us, and your payments will continue to be automatically debited each month. However, this transferred bank account information does not appear in Manage My Account. If you would like to make changes to KwikPay, you must re-enter your banking information into Manage My Account.

If you change your banking information in Manage My Account at least ten (10) business days prior to the next payment due date, the new bank account information will be used for your future auto-debit payment(s) instead of the bank account information that was transferred to us from the Direct Loan Servicing Center.