Payment Options

Important Information Regarding Application of Payments

All payments are applied first to any fees on your account, then interest, and then principal. If you have multiple loans, your payment will be divided proportionally across your loans. This is defined in the terms of your Application and Promissory Note.

Please call 800-242-3062 if you would like a payment handled in a different manner. A Customer Service Representative can review your request and instruct you on how best to submit your payment. Texas Higher Education Coordinating Board (THECB) will make every effort to honor your request.

Any written instructions must be sent with your payment. Special instructions will be applied to the payment they accompany. They will not be retained and used with future payments. 

Automatic Debit (ACH) Payments

Automatic Debit (ACH) is a convenient way to electronically deduct your monthly payment from your checking or savings account on the same date of each month. Your account must be current and in an active repayment status to be eligible for ACH enrollment. Payments will be applied to all loans within an account.

There are no service fees for using ACH. In addition, you will receive a 0.25 percent interest rate reduction while your account is in an active repayment status and on ACH.

To sign up for ACH or cancel ACH enrollment, please log in to your account, select the "View ACH Enrollment" button, and follow the instructions.

If you are unable to access your online account, visit Login Tips. If you continue to have difficulty accessing your online account, you may speak to a Customer Service Representative at 800-242-3062, Monday through Friday, 8 a.m. to 5 p.m. CST. 

Establish Recurring Payments

Using a financial institution's online banking service provides a convenient way to schedule recurring payments on your student loan account. If this interests you, ask your financial institution if this service is offered. If you choose to set up recurring online bill payments, be sure to use the account number located at the top of your monthly billing statement and make the check payable to Texas Higher Education Coordinating Board or THECB.

Submit Online Payments to Your Account

Borrowers can make online payments by using VISA®, MasterCard®, Discover®, or American Express®. Payments can also be made by using your checking or savings bank account number and U.S. financial institution's nine-digit routing number. Payments made online will be posted to your account within three business days. To make a payment, borrowers must log in to their account, select the "Make a payment to your account" button and follow the instructions. Please note this option is not available to cosigner online accounts.

Pay by Phone

You can make your loan payments using our pay-by-phone option which is fully automated with no wait time. Call 800-242-3062 (Toll Free) and select the option, "Make a payment using our check-by-phone service." Payments can be made by using your checking or savings bank account number and U.S. financial institution's nine-digit routing number. If paying from a checking account, you can refer to a personal check for the required bank account information. It is important to note that some banks have different routing numbers on their deposit slips; therefore, ensure that you use the correct one. Please contact your bank if you are unsure of your bank account number or bank routing number.

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Payments by Mail

You can submit payments by mail using a personal check, cashier's check, or money order. Be sure to include your account number on your payment, and make your payment payable to Texas Higher Education Coordinating Board or THECB. If you are a cosigner, you may choose to have your payment applied to either your cosigned loans or all loans within an account. Cosigners, please include the borrower's account number on your payment and include the loan numbers of your cosigned loans or specify to have your payment applied to all loans of the referenced account. We are unable to accept cash payments by mail.

Please mail payments to:

Consolidate Your Federal Loans

You may be able to combine your existing federal education loans into one new consolidated loan that can offer several advantages. Private education loans cannot be consolidated with federal education loans. Texas Higher Education Coordinating Board does not offer consolidation services. For more information, visit Federal Student Aid.