How will I repay my loan?
Funding U loans do require monthly payments while you are in school at a lowered courtesy rate of either $20 minimum or an Interest-only payment amount (Options vary by State and are provided with Interest rates at the time of application).
Traditional repayment begins six months after graduation. For example, if you graduate in May your first traditional payment would be due in November. Your loan repayment period is 10 years or 120 months.
You can always make extra payments at any time with no penalty which will reduce your loan balance. We report your in-school payments to credit bureaus so on-time payments should help to improve your credit score.
*Your repayment period will begin sooner if you discontinue your eligible college program or are no longer enrolled full-time in an eligible school.
Make a Payment
Launch Servicing offers several payment options. Each option puts you in control of the timing, amount, and method in which you pay your loan. (Launch payment webpage)
Electronically
It's easy to make a payment electronically – either by logging in to your account or through your bank or credit union’s online bill pay service.
Pay Via Your Launch Servicing Account
Step 1: Log into your account from any mobile device or computer. If you don’t have a Launch Servicing account, you must create your account first.
Step 2: You have the option to make one-time or set up recurring payments from a checking or savings account. You also have the option to make one-time payments using a debit card. Payments made prior to 6 PM central time will be credited to your loan that day. Payments received after 6 PM central time will be credited the following day. The payment will be viewable on your account the next business day.
Bill Pay Service
Contact your financial service provider for directions to set up bill pay. Launch Servicing is the company you will search for within the Payee search feature on the bill pay site. If you can’t find Launch Servicing using search, you will need to enter the following information manually:
Launch Servicing
P.O. BOX 679220
Dallas, TX 75267-9220
You will need your account and loan number when setting up bill pay. When you enter your account and loan number please separate them with a dash (-).
Launch Mobile App
Making a payment with Launch's mobile app is fast and convenient - manage your account from anywhere and never worry about missing a payment again. Download from the App Store or on Google Play and login with your existing user credentials.
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