Autopay Terms and Conditions
Automatic Payment Discount Terms & Conditions
These Terms and Conditions are applicable to eligible loan applications received on or after 12/27/2019.
• The current offered Automatic Payment Discount is an interest rate reduction of 0.25%.
• Eligibility for the Automatic Payment Discount is limited to borrowers that have a Skills Fund Loan that is serviced by Launch Servicing, the borrowers are enrolled in and making automatic debit payments from their personal checking account, and the amount is successfully withdrawn from the authorized bank account each month with the loan servicer.
• The loan must be current. Loans in a delinquency and/or default or charge-off status are not eligible.
• Your required minimum monthly payment amount must be made on time.
• You are not eligible for the Automatic Payment Discount if your monthly debited payment amount is less than $1.00.