Frequently Asked Questions

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Online Payments

What if I’ve been impacted by COVID-19?

Many of you are reaching out to us to see if your loans are part of the student loan relief that the White House approved. If you have federal student loans made after 2010, the answer is yes; the interest-free period and payment suspension applies to those loans only—at this time. 

VSAC is advocating strongly to have this program extended for all borrowers. At this time, the bill does not include relief for most federal student loans taken out before 2010 or for private student loans. VSAC will provide you with updated information on payment relief on these loans as soon as we hear.

For now, VSAC continues to offer a program that we’ve offered since 1998 that allows a borrower facing financial hardship to suspend their interest and principal payments for up to 24 months in 3 month segments over the life of the loan. If you’re experiencing hardship because of COVID-19, please call us at 800-642-3177 so we can explore options with you.

How do I make a payment online?

You can make online payments through your MyVSAC account. It’s safe and secure!

  1. Log in to your MyVSAC account.
  2. Click on the “Loan Info & Make Payments” button.
  3. Click the “Make a Payment” button. 
  4. Click continue to LoanPay.
  5. Enter the amount you want to pay and the payment method and click “continue.”

If you aren’t using a saved payment profile you'll need to provide your banking information in the next screen. Please review your entry, because an incorrect routing or account number could result in cancelled payments. Once complete, click “continue.”

Review the information for accuracy and then click “Confirm” to submit your payment.

How do I set up recurring online payments?
  1. Log in to your MyVSAC account.
  2. Click on the “Loan Info & Make Payments” button.
  3. Click the “Make a Payment” button. 
  4. Click continue to LoanPay.
  5. Once in LoanPay, select “Scheduled Payments," then select “Schedule New Payment Series" to set up a recurring debit.
  6. Provide your banking information. Please review your entry, because an incorrect routing or account number could result in cancelled payments.
  7. Choose the date of the debits. This won't change your regularly scheduled due date with VSAC. Payments take up to two business days to be applied to your VSAC loan.
  8. Select the payment amount and duration of the recurring debit payment series by selecting a number of payments, a date for payments to end, or the option to pay until further notice.
  9. You can review the status of debits you have scheduled by selecting “Currently Scheduled" under the option “Scheduled Payments."
How do I edit or cancel my recurring online payments?

IMPORTANT: Any time your payments change, it's your responsibility to adjust your recurring payment schedule accordingly.

  1. Log in to your MyVSAC account.
  2. Click on the “Loan Info & Make Payments” button.
  3. Click the “Make a Payment” button. 
  4. Click continue to LoanPay.

Cancel an individual payment in a scheduled series: Select “Scheduled Payments," then select the "X" under the word “Actions" for the payment you wish to cancel. Payments may be cancelled up to 4:30 pm ET on the scheduled payment date.

Cancel all payments in a schedule: Select “Scheduled Payments," then “Currently Scheduled," and then select "Cancel" on the upper right of the series schedule.

Change the payment amount or date for the entire schedule: Cancel all payments in the schedule (see above) and create a new schedule with the new amount.

Change the bank account information for the entire schedule:

  • If you used a saved profile, you can update the “payment profile" used for the schedule.
  • If you didn't use a saved profile, delete the schedule and re-create with the new bank account information.

Change the payment amount, date, or bank account for an individual payment in a schedule: Cancel the individual payment (see above) and make a one-time payment with the different amount, method/account, or date.

How can I make payments on loans that I cosigned?
  1. Log in to your MyVSAC account (or register if you haven’t set up an account yet).
  2. Once logged in to a linked account, click on the “Loan Info & Make Payments” link.
  3. If you're a cosigner on multiple accounts, or if you also have loans in your own name, you need to select the account you wish to view or make payments. You can do this via the drop down box on the left side of your screen.
  4. Click the "Make a Payment" button.
  5. Click continue to LoanPay.
  6. Enter the amount you want to pay, along with the payment method, and click "continue." If you aren't using a saved payment profile you'll need to provide your banking information in the next screen. Please review your entry, because an incorrect routing or account number could result in cancelled payments. Once complete, click "continue."
  7. Review the information for accuracy and then click "Confirm" to submit your payment.
What is an authorized payer?

An authorized payer is someone you add to the online payment system (LoanPAY™) to allow them access to make online payments on your account.

If you have a cosigner who wants to make payments, see the previous question; it explains how cosigners can make payments for the loans they cosigned.

How do I set up an authorized payer?
  1. Log in to your MyVSAC account.
  2. Click on the “Loan Info & Make Payments” button.
  3. Click the “Make a Payment” button. 
  4. Click continue to LoanPay.
  5. Once in LoanPAY™, select "Authorize Payers."
  6. On the Authorized Payers screen, click the “Add New" button.
  7. Follow the instructions presented on the screen.
  8. Your authorized payer will be sent an email with their login name, a link to create their password, and a link to the authorized payer login page.
How do I change a password for my authorized payer?
  1. Log in to your MyVSAC account.
  2. Click on the “Loan Info & Make Payments” button.
  3. Click the “Make a Payment” button. 
  4. Click continue to LoanPay.
  5. Once in LoanPAY™, select "Authorize Payers."
  6. Click on the name of the authorized payer whose password you need to update.
  7. Click on the “Reset Password" button.
  8. Your authorized payer will be sent a temporary password via email to enable them to login and to change their password.
The LoanPAY™ transaction history shows I made a payment on Tuesday, but in myVSAC it shows as Wednesday. Why are the dates different?

Your transaction history in LoanPAY™ accurately reflects the day you initiated your payment online. Your MyVSAC account will reflect the effective date of the payment, which is the date when the funds are debited from your bank account. This is the next business day if you made the payment before 6:00 pm ET Monday–Friday, or the second business day for payments made Monday–Friday after 6:00 pm, or on a weekend.

I have set up a payment schedule and was recently approved for a deferment. Will my scheduled payments be cancelled or do I need to do this?

Any time your payments change you must adjust your recurring payment schedule accordingly.

Can I use my debit card to make online payments?

No, you'll need to enter the bank routing and bank account number associated with a checking or savings account. You can then save this bank account information in order to complete future payment transactions quickly.

Why can't I see the full bank account number I entered?

Only the last four digits are viewable as a safety measure, similar to why password fields fill in with asterisks.

When will my online payment post to my account?

Payments initiated before 6:00 pm ET Monday–Friday will be effective on your VSAC account the next business day. Payments initiated after 6:00 pm ET Monday–Friday or on a weekend will be effective the second business day.

For example, if you make a payment before 6:00 pm on Friday, it will appear on your MyVSAC account after 4:00 pm on Monday; if the payment is made after 6:00 pm on Friday, or over the weekend, you'll see it in MyVSAC after 4:00 pm on Tuesday.

You may view your transaction history in the LoanPAY™ system to confirm that your payment was initiated.