Funding U offers a variety of options for students facing hardship and for those looking to continue their education after graduation.
Borrowers can request postponement in 90-day increments for verifiable reasons like temporary hardship with no minimum monthly payment required during this time. This postponement can be up to a total of 12 months for In-School borrowers and up to 24 months for borrowers in Principal and Interest Repayment.
Postponements may be applied automatically in certain cases, including:
– Bankruptcy: Unlimited term; interest may be capitalized
– Death: Loan principal and interest forgiven
– Administrative: 60-day term for operational needs; interest may be capitalized
– Natural Disaster: Up to 3 months; interest may be capitalized
– Temporary Total Disability: Initial 6 months, up to 24 months with medical certification; interest may be capitalized
– Total Permanent Disability: 6-month term, up to 60 months with medical certification; interest may be capitalized
– Late School Notification: Unlimited term; interest may be capitalized
– Active Military Duty: Unlimited term; interest may be capitalized
All requests should be made directly, verbally or in writing, with the servicer Launch via the Launch Borrower Portal:
https://borrower.launchservicing.com/Login.aspx?ReturnUrl=%2f