Automatic Bank Draft
Automatic Bank Draft will save you time and money! No more writing checks to us each month or finding a stamp and remembering to mail the payment. This greatly reduces the chances of the payment being late and being charged a late fee. And best of all, this service is free of charge.
QuarterBacksm Program
Sign up to have your Stafford, Federal Consolidation, Parent PLUS, Graduate PLUS, PAL or Teachers Loan payments automatically drafted from your bank account and we will lower your interest rate by .25%.
There are two ways to enroll for automatic bank draft. Contact our customer service representatives and they can set your account up over the phone, or simply complete the automatic bank draft form and return it to us along with a voided check to:
South Carolina Student Loan (SCSL)
P.O. Box 21337
Columbia, S.C. 29221
P.O. Box 21337
Columbia, S.C. 29221
Things to remember
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Be sure to keep making your regular payments until you are notified that the first draft will occur.
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Remember to sign and date your application.
- If you are drafting from a joint account, be sure the joint account holder signs and dates application as well.
- If you are using a credit union or drafting from a savings account, please verify your ABA routing number and account number with your banking institution.
- If the draft is dishonored or returned, a $25.00 fee will be added to your student loan account. Please note that this fee may periodically increase without notice to you.
- Your automatic bank draft will be cancelled during periods of no pay forbearance and deferment. Once the no pay forbearance or deferment period ends, you will need to contact SCSL in order to resume your draft. If you wish to continue the automatic draft while on the no pay forbearance or deferment, you must notify SCSL.
- To cancel or make changes to your automatic bank draft, please contact us at (800) 347-2752, Monday through Friday, 8:00 a.m.-5:00 p.m. Please allow at least five business days for the cancellation or change to take effect.
