Automatic debit (recommended)
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 your payments are made on time each month. You need to be current with your loan payments to enroll.
Remember, additional payments can be made online at any time.
Online payments
Log in to your account to add your bank account information. Once you’ve added it, you can submit your personal loan payment electronically each month.footnote 1
If you have multiple bank accounts, you can make your personal loan payments from a different bank account if you want to. Just remember to schedule the payment every month. Payments made online will be effective the same day for which they are scheduled. However, payments may not be reflected in your online Transaction History for 2 – 4 days after the effective date.
By phone
You can make personal loan payments through our automated phone system. Just call 800-472-5543 (800-4-SALLIE) and have your bank account information ready.
Payments by phone will be effective the same day for which they are scheduled. However, payments may not be reflected in your online Transaction History for 2 – 4 days after the effective date.
By mail
You can also make personal loan payments by mailing a check or money order. Allow at least 7 – 10 days before your due date for your payment to be credited in time. If your payment is late, you may be charged a late fee. A returned check fee may be charged if your check doesn’t clear for any reason, including insufficient funds.
How to pay by mail
- Include the remittance slip and 16-digit Loan Number with your payment to ensure it is properly applied to your loan.
- Make your check or money order payable to Sallie Mae and mail your payments to the payment address.
- We cannot process instructions written on the check or remittance slip.
- Payment address:
Sallie Mae
P.O. Box 8588
Philadelphia, PA 19101-8588
Third-party bill-pay services
Third-party bill-pay services may include payment services offered by your financial institution. Provide them with the applicable 16-digit Loan Number and allow at least 7 – 10 days before your due date for your payment to be credited in time.
How to pay with a third-party bill-pay service
- Provide them with the applicable 16-digit Loan Number
- Make sure your loan payment is directed to Sallie Mae at this payment address:
- Sallie Mae
P.O. Box 8588
Philadelphia, PA 19101-8588
Late personal loan payments
You may be charged a late fee if you don’t pay your loan’s Current Amount Due (and any Past Due Amount) within 15 days after the Current Amount Due Date. The late fee amount is listed on your loan’s disclosure and your billing statement.
Late payments may also be reported to consumer reporting agencies, which could negatively impact your credit report.