Skip Your EdFed Loan Payment and Add a Little More Jingle to the Holidays! EdFed can help ease the financial strain of the holidays with our Winter Skip-a-Pay Program.* A little extra cash in your pocket may allow you to spread some holiday cheer a little farther!
For only $25 per loan, you can skip your December or January payment (either one monthly payment or two bi-weekly payments) on select Credit Union loans.*
For a complete list of loans that qualify for the Winter Skip-a-Pay Program, visit www.edfed.org/winterskip.
*The Winter Skip-a-Pay Program is available between 11/15/2021-1/28/2022 for loans disbursed by 09/30/2021 and in good standing. Requests must be submitted at least three (3) days prior to the loan due date. The "Winter Skip Period" is your next scheduled payment(s) for December or January. Number of payment(s) skipped for the period selected will vary depending on payment agreement. During the Winter Skip Period, interest and finance charges will continue to accrue on your loan(s); however, you will not be required to make your regularly scheduled payment(s) and late payment charges will not be imposed. Participating in the Winter Skip-A-Pay Program will extend the term of your loan and will increase the total amount of interest and finance charges you will pay on your loan. Your regularly scheduled payments will resume in the billing cycle following your Winter Skip Period. Additional loan eligibility criteria includes that: the loan must not be a mortgage, home equity loan, Visa credit card, new/used Beat-the-Lease auto loan or workout loan; for bi-weekly or semi-monthly payments, the loan must have two remaining payments due in the month; for weekly payments, the loan must have four remaining payments due in the month; the loan must not have delinquency in the last 60 days; and the loan minimum payment must be equal to or greater than $50.00/month. |