Why you should always check your monthly payment, even if you're on autopay

By Anna Baluch | Published on October 21, 2025

)

Enrolling in autopay can allow you to take a “set it and forget it” approach to your student loan payments. Whether you’re busy with work, childcare, chores, hobbies, social events, or anything in between, this strategy may free up a bit of your jam packed schedule and potentially lower your interest rate.

While it’s tempting to simply sign up for autopay and never think about your student loan payments again, doing so can cost you. Below, we’ll dive deeper into why you should always check your monthly payments, even if you’re on autopay.

Autopay errors are common

In a perfect world, you’d enroll in autopay without having to worry about any potential problems. The reality, however, is that autopay errors do happen. In fact, a new report by the Consumer Financial Protection Bureau (CFPB) found that autopay errors were a widespread issue in the past year.

Sometimes, student loan servicers withdrew funds from borrowers’ bank accounts, even though they never agreed to autopay. In other scenarios, they pulled the wrong amounts from their accounts or charged them several times in the same month.

What to do about autopay errors

By keeping an eye on your monthly payments, you can catch autopay problems early on so that they’re easier and less time-consuming to resolve. If you do notice an issue with your autopay, here are a few suggestions:

• Inform your student loan servicer: Don’t wait. Reach out to your servicer right away. Depending on the situation, you can ask them to refund your money and/or reimburse you for late fees related to overdrafts or bounced checks.

• File a complaint: If you find that your student loan servicer isn’t cooperating or refusing to provide you with the refund or reimbursement you’re entitled to, don’t be afraid to file a complaint with Federal Student Aid (FSA).

How to manage autopay

As long as you manage it well, autopay can make your life easier. If you decide to enroll, these tips may come in handy:

• Set up alerts: Allow your bank or credit union to send you text or email notifications every time your student loan auto payments go through. By doing so, you’ll know when to check your account for accuracy. Bank alerts can also inform you of overdrafts or when your account dips below a certain threshold.

• Take advantage of a budgeting app: Use a budgeting app to easily track when your student loan payments and other auto payments are supposed to come out of your account. If you connect the app to your bank account, it can update you of your payments and automatically reconcile your account.

Earnest’s Client Happiness team is here for you

If you take out a student loan with Earnest or refinance through us, you’ll enjoy access to our Client Happiness team. Whether you encounter an issue related to autopay or anything else, rest assured you’ll receive the prompt, friendly assistance you deserve.

While other student loan servicers often hire salespeople to communicate with their borrowers, our customer service representatives genuinely want to help you out. They’re passionate about educating people on private student loans and refinancing so they can make better financial decisions.

Enroll in Auto Pay and Refinance with Earnest

At Earnest, we offer low rates and flexible terms in addition to access to a responsive Client Happiness team that can guide you through the loan process and quickly address any issues you might face.

Plus, we reward borrowers who sign up for Auto Pay with a 0.25% interest rate discount. To find out what type of refinancing rates you may qualify for with Earnest, check your rate in under 2 minutes, without any impact to your credit score. It only takes about two minutes and won't affect your credit score.

About the Author

Anna Baluch

Anna Baluch is a freelance finance writer from Cleveland, OH. She enjoys writing content that helps people from all walks of life make good financial decisions. Her areas of expertise include student loans, refinancing, mortgages, personal loans, budgeting, and debt management.

Disclaimer

Disclaimer: This blog post provides personal finance educational information, and it is not intended to provide legal, financial, or tax advice.