Student Loan Automatic Withdrawal Plan

Automatic withdrawal is a method of using the banking industry's  Automatic Clearing House (ACH) to process the monthly payment of your student loan.

If your banking or financial institution is a member of the ACH system and will accept pre-authorized debits, your account will automatically be debited for your payment amount on the first of each month.



 Why should I use automatic withdrawal?

  Convenience

No need to write a check and mail it each month. Your monthly payments will automatically be deducted from your checking account.  

  Peace of Mind

No need to worry about your payment being received after the due date. Funds will be drawn from your account on the first business day of each month.

 How will my bill be affected by automatic withdrawal?

After we process your Student Loan Automatic Withdrawal Authorization Form, we will notify you of the date of your first automated account debit.  Until you are notified, you must continue to make your monthly payments by mail.

After we make your first withdrawal, you will not receive a monthly statement from us.  Instead, each January you will receive a statement of your account that covers the preceding calendar year.  You may obtain information about your account at any time by calling or writing the  Student Loan Office.

Please remember to notify the Student Loan Department directly of any address or account information changes.  Written authorization is required to cancel or change bank information for the Automatic Withdrawal plan.

  Sign up for Automatic Withdrawal of your Student Loan Payment

Complete the authorization form below and ATTACH TO IT A VOIDED CHECK FROM THE ACCOUNT from which your payments will be made.  The account must be a checking account.  We cannot debit savings or money market accounts.

 Automatic Withdrawal Enrollment Form

 Return the authorization and your voided check to  Student Loan Office, Office of the Bursar, Cornell University, 260 Day Hall, Ithaca, NY 14853-2801.