News and Info
Home / News and Info
News and Info
- How to make Online and Automatic Debit (ACH) loan payments
Make secure online loan payments by:- Quick Pay and Online Payment
- Make payment by valid checking or savings account
- Must provide bank routing number and bank account number when making a payment
- Enroll in Automatic Debit Payments (ACH) by clicking Forms, Miscellaneous Forms and E-sign Automatic Debit Withdrawal Request
- Email notice sent 10-days prior to payment due date
Payment processing cutoff time is 3pm Monday-Friday. Payments will be applied to your account on the next business day. Note: A Non-sufficient funds (NSF) fee of $35 is charged when your check is returned by your bank, or your electronic payment cannot be processed by your bank due to no funds available in your bank account. GSFA notifies borrowers by email 10 days prior to the payment being drafted from your account. SAL Service Cancellation Option through Public Service- For students that received a SAL while attending a USG or eligible private college or university
- Work full time for one year in Georgia in "public service"
- The year SAL disbursed determines the time or amount that may be canceled by service:
- SAL disbursed on or after 7/1/2015
- 1 year of loan service cancelled for 1 year of qualified full-time public service employment
- SAL disbursed 7/1/2012 - 7/1/2014
- Service cancellation of $750 for 1 year of qualified full-time public service employment
- SAL disbursed on or after 7/1/2015
- Credit reporting begins at the start of your loan and continues with a monthly status update when your deferment ends (typically 6 months after you graduate or no longer enrolled) through the completion of loan repayment
- Monthly payment history is reported. While in deferment your payment history will report as In Deferment.
- Accounts without payments made for 60 days are reported to the credit bureau as a late payment. Additionally, if payment is not made at 90, 120, 150 and/or 180 days a report is sent to the credit bureau. Not making your payment on time can impact your credit history and score.
- Making a late payment does not remove the credit reporting of the fact the payment was not made on time.
- Making a payment or obtaining a deferment/forbearance for your loan after it has been reported to the credit reporting agencies will not remove the late payment report from your credit history.
- If you do not make regularly scheduled payments for a period of 270 days while in repayment, your loan will be in default
- Your default will be reported to all national credit reporting agencies which will damage your credit score and credit history
- If you are experiencing financial hardship while you are in repayment you may be eligible for the following deferments: In school, Unemployment, and Economic Hardship
- Interest does not accrue during the period of deferment for SAL disbursed on or after 7/1/2014. SAL disbursed prior to 7/1/2014 interest will accrue during the period of deferment.
- Select Forms and Deferment/Forbearance Forms to view and upload/e-sign completed forms.
- If you are having financial difficulty and you do not qualify for an authorized deferment, you may be eligible for a forbearance
- Interest accrues during the forbearance period. If the interest is not paid during the forbearance period, the interest will be added to the principal balance.
- Select Forms and Deferment/Forbearance Forms to view and upload/e-sign completed forms.
We do not sell or market your personal data. We maintain physical, electronic and procedural safeguards that comply with regulations to guard your personal information. - Quick Pay and Online Payment