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Student Loan Repayment

Payment Incentives

 
 
Private Loan Payment Incentives – Save money with prompt payments!

Note: The terms and conditions of all Access Group Student Loan Payment Incentives are subject to change and may vary by academic year and school. For further information, please refer to your loan application materials or call us.
   
On-time payment incentive – Lower your interest rate by 0.5%

If we receive your first 48 consecutive scheduled loan payments in full no more than 5 days after the due date, we will reduce the interest rate on the loan by 0.5% per annum, effective no later than the next payment due date.

You will permanently lose eligibility for this interest rate reduction if, at any time either while making the initial 48 payments or after the interest rate reduction has been applied, a payment is not received in full within 5 days after its due date or you receive a disqualifying forbearance.

   
Auto-debit incentive
– Lower your interest rate by an additional 0.25%

If you authorize Access Group or your loan servicer to automatically withdraw monthly loan payments from your checking or savings account, you will receive a 0.25% per annum reduction on your interest rate.

This interest rate reduction will permanently terminate the first time you have insufficient funds in your account to cover the payment debited. If you change banks or enter any type of forbearance, the interest rate reduction will be temporarily suspended until you re-establish automatic payments.

Note: To activate this interest rate reduction the first time or following any such suspension, you must contact your loan servicer and submit a completed enrollment form.

Federal Stafford Loan Payment Incentives
   
Auto-debit incentive – Lower your interest rate by an additional 0.25%

If you authorize Access Group or your loan servicer to automatically withdraw monthly loan payments from your checking or savings account, you will receive a 0.25% per annum reduction on your interest rate.

This interest rate reduction will permanently terminate the first time you have insufficient funds in your account to cover the payment debited. If you change banks or enter any type of forbearance, the interest rate reduction will be temporarily suspended until you re-establish automatic payments.

Note: To activate this interest rate reduction the first time or following any such suspension, you must contact your loan servicer and submit a completed enrollment form.

Federal PLUS Loan Payment Incentives
   
Auto-debit incentive – Lower your interest rate by an additional 0.25%

If you authorize Access Group or your loan servicer to automatically withdraw monthly loan payments from your checking or savings account, you will receive a 0.25% per annum reduction on your interest rate.

This interest rate reduction will permanently terminate the first time you have insufficient funds in your account to cover the payment debited. If you change banks or enter any type of forbearance, the interest rate reduction will be temporarily suspended until you re-establish automatic payments.

Note: To activate this interest rate reduction the first time or following any such suspension, you must contact your loan servicer and submit a completed enrollment form.

To encourage and reward on-time payments, Access Group offers two money-saving payment incentives.
 
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