Free Repayment Guide » In Repayment » Maintain Your Credit » Make On-Time Payments

Make On-Time Payments

It's not enough to have a budget that has your income more than cover your expenses:  it's actually making your expense payments on time that can be even more important.  Making on-time payments is one of the simplest and most constructive things you can do with your credit, and a few steps will get you there.

• Step 1:  Schedule your expenses on a budget calendar.
• Step 2:  Coordinate your expenses with your paychecks.
• Step 3:  Proactively contact your billers if you're having trouble.

Making on-time student loan payments sometimes has an additional benefit:  Lenders on occasion will offer a discount for making consecutive on-time student loan payments.  These come in the form of an interest rate reduction that ranges from 0.5%–2.0% and apply once you've made 1–3 years of consecutive on-time payments.  Note that the timer for this starts when your loans first enter repayment.

Chaperone Assist ⇒ Your Student Loan Chaperone can help you with your repayment schedule.

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