Manage your budget during the summer months
To help school employees manage their budget during the summer, we offer the Summer Skip Payment Option.1 By choosing this option, you can skip your July and August loan payments each summer during the term of your loan.
How it works
This special payment schedule can be set up when you get your loan. Each year after you make your June payment, the loan due date will automatically advance to September. The interest will continue to accrue during July and August when the payments are skipped.
The Summer Skip Payment Option is only available for auto and recreational vehicle loans.2
1 Interest will continue to accrue during July and August when payments are skipped. Once you make your loan payment in June, the loan due date will automatically advance to September.
2 Vehicle loans with CPI Insurance owed are not eligible for the Summer Skip Payment Option.