Life can be unpredictable — Defer-A-Pay makes it easier to manage your monthly finances

Defer-A-Pay is a convenient way for eligible members to defer up to two monthly loan payments in a 12-month period, with a maximum 10 deferrals for the life of the loan, for just $25 per deferral.2 Each time you defer a payment, your loan term is extended by one month.3

Eligible Loans

Most consumer loans are eligible, including vehicle, airplane, boat, computer, share secured, personal, teacher certification and teacher relocation loans. Terms and restrictions apply.

How to Defer a Payment

Sign in to SchoolsOnline and click the "Transfers & Payments" tab. If your loan qualifies for Defer-A-Pay, you will see the option to defer a payment listed in the sub menu.

Rates are subject to change.
1 APR = Annual Percentage Rate. A $15,000, 60-month loan at 2.39% APR and 100% financing, would require 59 payments of $265.49 with one final payment of $265.47.
2 The fee will be charged at the time of deferment from the Schools Financial account you designate (i.e. checking or savings).
3 Deferring a payment results in finance charges continuing to accrue and paying higher finance charges over the life of your loan.