Q: How do I make payments on my Skills Fund loan?
Aspire and Launch are the loan servicers for Skills Fund’s loans. This means Aspire or Launch will collect your monthly payments during the repayment phase of your loan. All loans applied for before June 9th, 2019 will be serviced by Aspire. All loans applied for on or after June 10th, 2019 will be serviced by Launch.
Need to pay your loan? Have a question about repayment on an existing loan?
- If you applied for your loan before June 9th, 2019, visit Aspire online or at 1-800-243-7552.
- If you applied for your loan on or after June 10th, 2019, visit Launch online or at 877-354-2629.
The timing of your payments depends on your loan type.
- For Interest-only Loans, you will make interest-only payments while in program and for three months of grace. You will start making full (interest + principal) payments three months after your program ends.
- For Immediate Repayment Loans, you will start making payments roughly one month after your loan is disbursed (which occurs on the second Wednesday after program start.)
- For Deferred Repayment Loans, you will make no payments while you’re in school and for three months after. Then you’ll start making full payments (interest + principal).
You can find more information about repayment amounts and scheduling on your specific school's partner website.
For more info, go to: How Do I Pay Back My Skills Fund Loan