Tips for repaying your student loans

Here are some simple tips and organizing ideas that can help you successfully repay your student loans.

Making it easier to repay your student loans

Whether you’re getting ready to pay back loans for college or for your graduate degree, these tips can make it easier to organize your information and streamline bill paying.

Know your loan servicers

You may have both federal and private student loans for your undergraduate and graduate school education.

  • For federal loans, visit the National Student Loan Data System to see who your servicers are.
  • For private loans, you can request a free credit report from that lists the student loans reported to the consumer reporting agencies. (Most servicers report their loans to these consumer reporting agencies.)

Update your contact information

For Sallie Mae loans, you can update your info by simply clicking the "Log In" button at the top of the page to access your account and make the change.

Enroll in auto debit and you may save money on your loan

Auto debit is the most convenient way to make your student loan payments. When you enroll in auto debit, you can choose to pay the Current Amount Due, which is the amount required to be paid each month until the loan is paid in full, or you can choose to pay more each month, which may help lower your Total Loan Cost. There’s no penalty for paying early or paying extra. Each month, we’ll automatically withdraw your payment from the authorized bank account. If you make an additional payment while enrolled in auto debit, it will not change the amount we withdraw.

By enrolling in auto debit, you can help ensure payments are made on time each month. You may also qualify for a 0.25 percentage point interest rate reduction on your eligible loan(s).footnote 1 You need to be current with your loan payments to enroll.

Submit Payments through the Sallie Mae® Mobile App

Make payments and manage your Sallie Mae student loan from your iPhone ® or Android(TM) phone. Learn more about the mobile app.

Making on-time payments may help your credit—and may save you money

Making on-time payments on your student loans can help you build and maintain a good credit rating—and save you the extra expense of late fees.

Pay a little extra when you can to lower your Total Loan Cost

This is a great way to save money—paying a little more than your required payments when you can may reduce your Total Loan Cost.

Call if you’re having trouble making payments

We’re committed to working together to get you back on track. Use forbearance only as a last resort; interest will continue to accrue on your private student loans during this period. Don’t wait. Call us at 800-472-5543 (800-4-SALLIE).

Read your billing statement carefully

It lists your monthly student loan payments and balances. Plus, it’s your source for important messages.

Make a monthly budget

It can help you figure out how your student loan payments will fit with items like your salary, potential graduate school expenses, and living costs.

Download a monthly budget worksheet (PDF)

How to lower your loan cost

Learn some tips for lowering your Total Loan Cost and paying your loan off in a shorter time.

Related topics

footnote 1. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.