Yes, there are benefits. Automatic payments help simplify your life. You can choose your payment due date from the 1st through the 28th of the month, and by making payments on time, you could build a positive credit history on your loan(s). If you are in school, grace or a period when no payments are required, you can choose to have payments withdrawn monthly or quarterly. You are not required to make payments during these periods; however, making payments may help reduce your balance and payment amount when you enter repayment status. Signing up for automatic payments also decreases your interest rate by 0.25% and helps you avoid late fees.