Msufcu skip a pay 2025

See details

4 out of 5

41 votes

The document outlines the Skip-A-Pay program offered by Michigan State University Federal Credit Union (MSUFCU), which allows members to skip up to two monthly loan payments each year under certain conditions. To participate, members must have their account in good standing, submit a written application with a $35 fee for each skipped payment, and meet eligibility criteria. The document includes instructions for completing the application and highlights that skipping payments will extend the loan term and accrue interest.

Here's how it works

01. Edit your msufcu skip a pay online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out msufcu skip a pay with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the msufcu Skip-A-Pay application in the editor.
Begin by filling in your name as the Borrower and your Account number. If applicable, include the Joint Borrower's name.
Enter your Loan ID, Address, Phone number, and City, State, ZIP code in the designated fields.
Specify which payment you wish to skip by entering it in the 'Payment to Skip' section.
Select whether you want the $35 application fee withdrawn from your checking or savings account and provide the two-digit suffix if necessary.
Ensure all parties on the loan sign and date the form at the bottom before submission.
Once completed, save your document and follow instructions for mailing or faxing it to MSUFCU.

Start using our platform today for free to streamline your msufcu Skip-A-Pay application process!

See more msufcu skip a pay versions

We've got more versions of the msufcu skip a pay form. Select the right msufcu skip a pay version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2018	4.8 Satisfied (90 Votes)
2017	4.3 Satisfied (66 Votes)
2010	4 Satisfied (41 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Is skip-a-Pay a good idea?

If your lender already has a payment deferment option in your loan agreement, you only need to choose skip a payment in your payment coupon book or apply to skip a payment on the lenders website. If your lender doesnt explicitly mention deferment in the agreement, first call them to understand your options.

Does using Skip a Pay affect credit score?

No Credit Impact Skipping a payment through a holiday skip program like Skip a Pay wont affect your credit score. This is not the same as missing or being late on a payment, so theres no need to worry about your credit score taking a hit.

Does skip-a-Pay hurt your credit?

Taking the skip will result in you paying more interest. Even if you make an interest only payment, interest will accrue for longer on a higher principal balance. If you need the help, its not the worst thing you can do but it is revenue for the financial institution and thats why they are offering.

What are the cons of skip a Pay?

Both Auto Loans and Home Equity Lines of Credit (HELOC) are eligible for the Skip-a-Pay program. Mortgage loans, Personal Loans, Credit Card loans and loans that are past due are not eligible.