No matter which plan you choose, check with your servicer about electronic statements and automatic payments. You can receive your statement electronically, make a payment online or schedule a monthly electronic debit to pay your bill. Some servicers will reduce your interest rate if you pay by electronic debiting.
Electronic debiting is the most convenient and efficient way to make your student loan payments. You won’t have to remember to mail a check each month, and your loan payments will always be on time. To sign up for electronic debit, contact your servicer. If you don’t know who your servicer is, look it up on www.nslds.ed.gov.