Skip Your December or January Loan Payment Tis' the season for EdFed's Winter Skip-A-Pay!1 Whether you are looking to increase your cash flow for shopping, traveling to visit family or friends, or simply want an extra cushion for the holidays, EdFed is here to help. Best of all, there is no penalty when you skip your payment, so act now to make your holiday season even jollier.
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.
1The Winter Skip-a-Pay Program is available between 11/15/2022-1/28/2023 for loans disbursed by 09/30/2022 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. |