Take a Break from Your Payment - Schools Federal Credit Union

Summers are meant for fun and relaxation! If you’re a school employee, you’ve worked hard all year for the well-deserved break. And guess what? We believe your finances should get a break too! You might be eligible to skip your auto loan or personal (signature) loan payments for the next two months.

Here’s how easy it is to qualify:

Must be a New or Used Auto Loan or a Signature Loan.
Six consecutive monthly payments must have been made.
No more than six approved deferrals over the life of the loan.
Not currently enrolled in, or participated in any deferral (skip) programs in the past 12-months.
Not on a 10-month annual payment schedule.
No legal orders issued in the past 12-months.
Loan term must be at least 12-months.
Loans with ancillary protection options (like Guaranteed Auto Protection) do not qualify.

Also, keep in mind that interest will continue to accrue during any deferral periods, which may extend the term of your loan.

Apply Now: Summer Payment Deferral