A message from VSAC: Our commitment to racial and social justice
Choose from the list of menu topics to sort through our FAQs.
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.
You can make online payments through your MyVSAC account. It’s safe and secure!
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.
IMPORTANT: Any time your payments change, it's your responsibility to adjust your recurring payment schedule accordingly.
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:
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.
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.
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.
Any time your payments change you must adjust your recurring payment schedule accordingly.
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.
Only the last four digits are viewable as a safety measure, similar to why password fields fill in with asterisks.
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.