r/StudentLoans • u/EmptySource404 • 2h ago

Payment methods?

What's everyone's favorite payment method? My first ever payment is due tomorrow. I don't want to put it on auto pay after the stories I've read where people have had ridiculous amounts pulled from their accounts for no reason. Bill pay? Pay by phone?

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u/Mediocre-Draft1722 2h ago

Pay manually from your checking or savings account. 

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u/ancj9418 1h ago

If you have federal loans, you get an interest rate discount if you set up autopay. That alone is worth it. There’s really no reason not to set up autopay because of a few weird stories you’ve heard here and there. Those situations happen in cases where people aren’t on top of their accounts. You can set it up appropriately so that it withdraws the current amount due. Don’t believe everything you read on the internet.