Advantages of On-Time Payments

Making your loan payments on time and in full every month offers several benefits, financially and personally. By avoiding late or missed payments, you will:

• Learn how to budget and manage your finances.
• Establish good credit so you can plan for larger purchases such as a car or a home. Your payment history may account for up to 35% of your credit scoreOpens a new window. Learn more about how payment history affects your credit score at the Fair Isaac Corporation websiteOpens a new window.
• Become a responsible borrower. You may qualify for other benefits including lower insurance rates or interest rates on other loans.
• Avoid the consequences of default.
• Pay less interest over the life of the loan.
• Not have to depend on someone else's credit to make a purchase.

Get Help

If you have difficulty making your monthly payments, loan counselors can discuss possible options with you.