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To get in touch with us, you can use our chatbot, Felix, here on the website or send us an email to [email protected]. Our team reviews all emails in the order they are received and will respond within 2 business days.
If you’d like to schedule a call with us, you can do so here.
Our Business Hours are 8:30 am - 8:30 pm ET, Monday - Friday excluding holidays.
To get in touch with us, you can use our chatbot, Felix, here on the website or send us an email to [email protected]. Our team reviews all emails in the order they are received and will respond within 2 business days.
If you’d like to schedule a call with us, you can do so here.
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Launch Services is Available Monday - Friday 7AM TO 7PM Central Time. Launch contact landing page
Contact Launch Servicing
Launch Services is Available Monday - Friday 7AM TO 7PM Central Time. Launch contact landing page
How to reach Launch:
Phone:
+1 (877) 354-2629
Email:
[email protected]
Alternatively, If you are a borrower, please log into your online account, by clicking this Borrower Login link, and send us a secure message through your online portal.
Correspondence
+1 (877) 354-2629
Email:
[email protected]
Alternatively, If you are a borrower, please log into your online account, by clicking this Borrower Login link, and send us a secure message through your online portal.
Correspondence
Launch Servicing, LLC
PO Box 91910
Sioux Falls, SD 57109-1910
PO Box 91910
Sioux Falls, SD 57109-1910
Payments
Launch Servicing, LLC
PO BOX 679220
Dallas, TX 75267-9220
PO BOX 679220
Dallas, TX 75267-9220
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Funding U loans are not currently available for summer school classes.
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We believe that you are more than your credit score. Most undergraduate students have not had a chance to establish a strong credit history. We do lend to all class years and make loans based primarily on your academic achievements and career path. Since upperclassmen will have more academic experience, juniors and seniors are more likely to be approved for our loans. Due to a lack of academic history, it is relatively more difficult for freshmen and sophomores to be approved.
Although we don't use your FICO score to make loan decisions, we do review your credit history. If you have documented credit issues (missed payments, collection items, charge-offs, etc.), these will negatively impact your chances to be pre-approved for a loan.
Although we don't use your FICO score to make loan decisions, we do review your credit history. If you have documented credit issues (missed payments, collection items, charge-offs, etc.), these will negatively impact your chances to be pre-approved for a loan.
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Funding U has a 3rd-party authorization form and process for the borrower, which allows us - with the borrower's permission - to speak with a 3rd party about the student's loan.
Please reach out to [email protected] to request the 3rd party-authorization form.
We understand that financing your education is a serious decision and we welcome parents and/or trusted adults to support you in this process. See below on how to complete the 3rd party authorization form.
A few things to keep in mind about Funding U:
A few things to keep in mind about Funding U:
- We lend directly to students as no parental cosigners are needed.
- Parental credit history and/or financial situation does not impact how we review the student application in any way.
- Due to Privacy laws & Credit regulations, we are only able to discuss student's pre-qualification, application, and/or loan with them until given permission via 3rd Party Authorization Form.
Funding U has a 3rd-party authorization form and process for the borrower, which allows us - with the borrower's permission - to speak with a 3rd party about the student's loan.
Please reach out to [email protected] to request the 3rd party-authorization form.
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The Bursar’s Office handles all accounts payable and receivable when it comes to tuition, fees, and financial aid. If you owe the school money - whether it is tuition or even parking tickets - you will likely receive a bursar hold.
A bursar hold stops you from receiving student services, such as getting your official transcripts released, registering for classes, accessing grades, and even receiving your diploma. When a Bursar Hold is placed, it's likely that you will be charged a late payment fee. Be sure to contact the Bursar’s Office directly if you have a hold.
Under certain circumstances, you are permitted to use your Funding U loan proceeds to pay down past-due balances incurred within the current academic year, such as past-due tuition, bursar holds, etc.
A bursar hold stops you from receiving student services, such as getting your official transcripts released, registering for classes, accessing grades, and even receiving your diploma. When a Bursar Hold is placed, it's likely that you will be charged a late payment fee. Be sure to contact the Bursar’s Office directly if you have a hold.
Under certain circumstances, you are permitted to use your Funding U loan proceeds to pay down past-due balances incurred within the current academic year, such as past-due tuition, bursar holds, etc.
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Funding U loans are disbursed directly through the college and applied evenly across remaining terms. For example: If you are applying in the Fall, half will disburse toward the Fall term and the other half toward the Spring term.
If you are approved and accept your loan offer, you can share your loan documents with your Financial Aid Office, as proof of aid if needed.
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Step 2: Pre-Approval
Step 3: Application Review/Underwriting
Step 4: Approval
Step 5: Certification
Step 1: Eligibility
- Apply Now to see if you’re eligible for a loan.
Step 2: Pre-Approval
- Confirm your need
- Upload docs
- Submit your app
Step 3: Application Review/Underwriting
- Keep an eye on your portal for additional information requests
Step 4: Approval
- Hold a Loan Advisor call *Required for all freshman and other grade levels as needed per Underwriting
- Receive your loan offer and documents to sign
Step 5: Certification
- Loan details are sent to your school for the final approval
- Disbursement dates are confirmed and scheduled
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There are never any fees or penalties for a no-cosigner student loan from Funding U.
- No application fee.
- No origination fees.
- No cancellation fees.
- No pre-payment penalties.
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New Undergraduate loans for the 2023-2024 school year will have an Annual Percentage Rate (APR) of 7.49% to 12.99%. All loans have a fixed interest rate range of 6.99%* to 12.49% with Autopay or 7.99% to 12.99% without Autopay. The interest rate is fixed, which means that even if market rates change, your monthly payment will remain the same. There is no origination fee. Interest accrues while you are in school.
*The lowest rate shown is available to only seniors with outstanding academic performance and is not typical of the rates offered to most borrowers. Your actual rate will depend on creditworthiness and other factors, such as your school year and GPA.
Terms, rates and loan amounts vary by state of residence.
*The lowest rate shown is available to only seniors with outstanding academic performance and is not typical of the rates offered to most borrowers. Your actual rate will depend on creditworthiness and other factors, such as your school year and GPA.
Terms, rates and loan amounts vary by state of residence.
- See more in Our Loans
- Please reference our PEL Disclosure
- Please reference our Truth In Lending disclosure
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Funding U has minimum GPA and graduation rate thresholds for all borrowers depending on your college and class year.
While we do lend to all grade levels, eligibility requirements are more strict for Underclassmen, as they typically have lesser college academic history. Freshman eligibility is assessed more heavily on high school academic performance.
We currently only offer student loans for undergraduate students. We do not offer loans for graduate school at this time.
To be eligible for a Funding U loan, you must be:
- A U.S. citizen, permanent resident, or DACA recipient
- A full-time undergraduate student at one of our 1460+ eligible partner colleges in the US
- Over the age of 18
Funding U has minimum GPA and graduation rate thresholds for all borrowers depending on your college and class year.
While we do lend to all grade levels, eligibility requirements are more strict for Underclassmen, as they typically have lesser college academic history. Freshman eligibility is assessed more heavily on high school academic performance.
We currently only offer student loans for undergraduate students. We do not offer loans for graduate school at this time.
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Your rate of academic progress toward graduation is extremely important to our underwriting and loan approval decisions. If you are unable to provide a transcript in the proper format, please reach out (from the email associated with your application) to [email protected] for assistance.
Both official and unofficial transcripts are acceptable.
To understand your academic history, we must review your full transcript. This includes all letter grades and GPAs earned for each course and term you’ve attended in college. If you have transfer credits, we will need the transcripts from your previous institutions as well.
Your rate of academic progress toward graduation is extremely important to our underwriting and loan approval decisions. If you are unable to provide a transcript in the proper format, please reach out (from the email associated with your application) to [email protected] for assistance.
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To be eligible for a Funding U loan, you must be a U.S. citizen, permanent resident, or DACA recipient.
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Your school’s financial aid office can address any concerns about any specific indirect costs you intend to cover with your private loan.
Your Funding U loan will be disbursed directly to your school for use toward costs included in your college's cost of attendance.
The cost of attendance (COA) is not necessarily the bill that you may get from your college, rather it is the estimated total for all of the costs of the given school year. The COA includes:
The cost of attendance (COA) is not necessarily the bill that you may get from your college, rather it is the estimated total for all of the costs of the given school year. The COA includes:
- Tuition and fees
- On-campus room and board OR a housing and food allowance for off-campus students
- Books & Supplies
- Transportation costs
- Other expenses - like an allowance for the rental or purchase of a personal computer
Your school’s financial aid office can address any concerns about any specific indirect costs you intend to cover with your private loan.
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We only lend to students at not-for-profit schools. We have approximately 1450 colleges and universities on our list of eligible schools. If you attend a for-profit school, please contact the financial aid office directly to inquire about your loan options.
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As you gain more responsibilities, it is important to understand the importance of building credit and having a good credit score. We're more than happy to share these resources with you but keep in mind, we are not financial advisors:
Credit Scores 101
Credit Scores 101
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We do not offer scholarships and are not currently affiliated with any organizations do.
Here is useful a resource that may help you find scholarships and grants in your state.
Funding U's State-by-State Breakdown of Financial Aid Resources
Here is useful a resource that may help you find scholarships and grants in your state.
Funding U's State-by-State Breakdown of Financial Aid Resources
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If you are an existing borrower checking on your funded loan, please visit Launch to log in to your online loan account.
If you are having trouble with anything, please email us at [email protected]
If you have previously started a loan application, your username is the email address you provided. Funding U does not use passwords.
To log in and continue a loan application or start a new application:
To log in and continue a loan application or start a new application:
- Click “Sign In”
- Enter your email address
- Check your email and click the magic link to securely sign in
If you are an existing borrower checking on your funded loan, please visit Launch to log in to your online loan account.
If you are having trouble with anything, please email us at [email protected]
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We understand that plans change. We recommend you return the excess loan funds to us by paying down your loan. Do not keep unneeded funds for future semesters. This may affect your ability to receive financial aid and approval chances for future loans.
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Keep in mind, changing your loan amount may affect your chance of approval and/or eligibility. Additionally, Funding U loans are certified by your school, so your final loan amount may change based on what "Need" your school certifies.
Please contact us right away if you want to change your loan amount.
Keep in mind, changing your loan amount may affect your chance of approval and/or eligibility. Additionally, Funding U loans are certified by your school, so your final loan amount may change based on what "Need" your school certifies.
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Yes. If your information has changed or you think you may have made an error while entering your information, please reapply. We also encourage you to try again next semester if you are not approved.
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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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Students may borrow one Funding U loan per academic year. Our loan amounts range from $3,001 - $20,000 with the minimum amounts depending on your state of residence.
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We believe that you are more than your credit score. Most undergraduate students have not had a chance to establish a strong credit history. We make loans based primarily on your academic achievements and career path.
Although we don't use your FICO score to make loan decisions, we do review your credit history. If you have documented credit issues (missed payments, collection items, charge offs, etc.), these will negatively impact your chances to be pre-approved for a loan.
Although we don't use your FICO score to make loan decisions, we do review your credit history. If you have documented credit issues (missed payments, collection items, charge offs, etc.), these will negatively impact your chances to be pre-approved for a loan.
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We lend to undergraduate students attending 4-year, accredited, non for-profit colleges in the United States. Our eligible school list includes more than 1460 schools. You can find out if your school is eligible by beginning the application process on our site.
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New student loans of $3,001 up to $20,000 for the 2023-2024 school year will be available to residents of the following states:
Alabama
Arkansas
Arizona
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Illinois
Indiana
Iowa
Kansas
Louisiana
Maryland
Massachusetts
Michigan
Minnesota
Missouri
Nebraska
New Jersey
New Mexico
New York
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
South Carolina
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Terms and conditions vary by state and grad year.
We are currently in the process of adding more eligible states. If your state of residence is not on the list, check back soon.
Alabama
Arkansas
Arizona
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Illinois
Indiana
Iowa
Kansas
Louisiana
Maryland
Massachusetts
Michigan
Minnesota
Missouri
Nebraska
New Jersey
New Mexico
New York
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
South Carolina
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Terms and conditions vary by state and grad year.
We are currently in the process of adding more eligible states. If your state of residence is not on the list, check back soon.
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We DO NOT currently offer loans to students studying at online-only universities.
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Bankruptcy
Death
Administrative
Natural Disaster
Temporary Total Disability
Total Permanent Disability
Late School Notification
Active Military Duty
Military Mobilization
Funding U offers a variety of forbearance options for students facing hardship and for those looking to continue their education after graduation. We have Forbearance options for students both in-school and our graduates who are in repayment. The specific forbearance options available to you will be fully detailed in your loan documents. Regardless of your situation, we always encourage our borrowers to stay in communication with us and our loan servicer Launch. We are here to help!
2023-2024 School Year Loan Program Forbearance Options
Forbearance Options - In-School
In-School status Borrowers will have the opportunity to apply for a forbearance applied in ninety-day (90) day increments based on the following documentable and verifiable reasons:
● Any medical residency;
● Economic hardship;[1]
● Military deployment;
● Total permanent disability;
● Temporary hardship;[2]
● National Disaster
A $0 minimum monthly payment is required for periods of forbearance. Interest will continue to accrue and will be capitalized at the end of the forbearance where applicable and permitted by law. Borrowers will receive a quarterly interest notice with the option to pay any accrued interest.
A borrower must provide documentation of the continuance of the circumstance(s) for which the original forbearance was granted to qualify for additional ninety (90) day extensions of the original forbearance. The maximum aggregate amount of in-school forbearance time is twelve (12) months unless otherwise indicated in the Servicer-Initiated and Exceptional Forbearances section. Any forbearance automatically ends upon the conclusion of the student’s in-school period (6 months after graduation).
Forbearance Options - Repayment
Borrowers in Repayment will have the opportunity to apply for a forbearance applied in ninety-day (90) day increments based on the following documentable and verifiable reasons:
● Unemployment;[3]
● Pursuing further studies for a graduate degree at an eligible school;
● Any medical residency;
● Economic hardship;[4]
● Military deployment;
● Total permanent disability;
● Late School Notification;
● Temporary hardship;[5]
● National Disaster
A $0 minimum monthly payment is required for periods of forbearance. Interest will continue to accrue and will be capitalized at the end of the forbearance where applicable and permitted by law. Borrowers will receive a quarterly interest notice with the option to pay any accrued interest.
A borrower must provide documentation of the continuance of the circumstance(s) for which the original forbearance was granted to qualify for an additional ninety (90) day extension of the original forbearance. The maximum aggregate amount of forbearance time is twenty-four (24) months unless otherwise indicated in the Servicer-Initiated and Exceptional Forbearances section.
Periods of forbearance may extend the current maturity of the loan by the applicable duration.
Forbearance Requests
● A borrower may request a forbearance verbally or in writing with the Servicer. Documentation supporting the type of forbearance requested will be required by the Servicer.
● Servicer has the authority to apply the forbearance upon receipt of the appropriate documentation.
● Approval and/or denial of all forbearance requests will be communicated to the borrower by the Servicer.
Servicer-Initiated and Exceptional Forbearances
To comply with applicable law, Servicer will grant the following forbearances where applicable and without a request from the affected borrower:
Bankruptcy
● Upon notification to the Servicer of the borrower’s bankruptcy petition filing, Servicer will apply a bankruptcy forbearance as de facto recognition of the expected period of delinquency that will occur before filing the bankruptcy petition, and during the bankruptcy period.
● Increment Term: Unlimited
● Maximum Term: Unlimited
● Interest may be capitalized and borrower correspondence will cease.
Death
● Upon proper notification to the Servicer of the borrower’s death, all loan principal and interest will be forgiven.
Administrative
When determined necessary by the Servicer to facilitate processing of a required operational transaction , an administrative forbearance will be applied for any one of the following reasons:
● a need to research a borrower dispute,
● a need to collect and process supporting forbearance documentation
● a need to align due dates for borrowers with loans from multiple lenders with the same Servicer,
● a < 60 day delinquency prior to enrolling in automatic debit,
● a change in repayment schedules,
● a need to process a loan consolidation request, and/or
● any logistical, unforeseen delay in loan conversion to servicing.
● Increment Term: 60 days
● Maximum Term: Unlimited
● Interest may be capitalized, and notice provided.
Natural Disaster
● A borrower will be eligible in the event of a Natural Disaster as declared by the U.S. Department of Education, or at the Lender’s discretion.
● Increment Term: Three (3) months
● Maximum Term: Unlimited
● Interest may be capitalized and notice provided.
Temporary Total Disability
● A borrower will be eligible for an initial six (6) months prior to obtaining certification from a doctor of medicine or osteopathy regarding their potential total permanent disability. Borrower must initially self-certify under penalty of perjury their intent to obtain medical certification as aforementioned to receive the initial (6) months of this type of forbearance.
● Increment Term: Six (6) months
● Maximum Term: Twenty-four (24) months interest may be capitalized and notice provided.
Total Permanent Disability
● A borrower will be eligible upon obtaining certification from a doctor of medicine or osteopathy confirming their total and permanent disability.
● Increment Term: Six (6) months
● Maximum Term: sixty (60) months
● Interest may be capitalized and notice provided.
Late School Notification
● A borrower will be eligible during periods when the school has not reported status timely. For example, we may receive late notice from a school that a borrower is out of school. The Servicer may treat the loan as though it were in forbearance to cover any period of repayment and delinquency caused by the late notification of enrollment information.
● Increment Term: Unlimited
● Maximum Term: Unlimited
● Interest may be capitalized, and notice provided.
Active Military Duty
● A borrower will be eligible upon submitting documentation certifying active duty status.
● Increment Term: Unlimited
● Maximum Term: Unlimited
● Interest may be capitalized and notice provided.
Military Mobilization
● A borrower will be eligible upon submitting documentation certifying active military mobilization for an eligible location.
● Increment Term: Unlimited
● Maximum Term: Unlimited
● Interest may be capitalized and notice provided.
[1] A borrower is considered experiencing “economic hardship” if he or she is either (a) receiving verifiable payments under a federal or state public assistance program; (b) serving as a Peace Corps volunteer; (c) working full-time but with a monthly income less than or equal to the Federal Minimum Wage Rate (monthly amount, based on $7.25 an hour): $1,256.67; or working full-time but with a monthly income is equal to or less than 150% of the poverty guideline for the borrower’s family size and state of residence.
[2] A borrower is considered experiencing “temporary hardship” if he or she has requested postponement of his or her scheduled monthly payments because he or she is in the process of moving, has experienced a death in the family, is transitioning to a new job or is pursuing an entrepreneurship).
[3] A borrower is considered “unemployed” if he or she does not have a job, has actively looked for work in the prior four (4) weeks, and is currently available for work.
[4] A borrower is considered experiencing “economic hardship” if he or she is either (a) receiving verifiable payments under a federal or state public assistance program; (b) serving as a Peace Corps volunteer; (c) working full-time but with a monthly income less than or equal to the Federal Minimum Wage Rate (monthly amount, based on $7.25 an hour): $1,256.67; or working full-time but with a monthly income is equal to or less than 150% of the poverty guideline for the borrower’s family size and state of residence.
[5] A borrower is considered experiencing “temporary hardship” if he or she has requested postponement of his or her scheduled monthly payments because he or she is in the process of moving, has experienced a death in the family, is transitioning to a new job or is pursuing an entrepreneurship).
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Rules and Guidelines
Existing borrowers can earn a $200 Amazon gift card for referring a friend to Funding U. No limit applies. To be eligible, your referred student must apply via your referral link and have their Funding U loan approved and successfully funded. (Bonuses are sent out to the email address used for the existing/referring borrower’s loan).
Sign in here to get your referral code: https://www.funding-u.com/v3/users/returning
Learn more about the 2023-2024 Borrower Referral Program HERE
Existing borrowers can earn a $200 Amazon gift card for referring a friend to Funding U. No limit applies. To be eligible, your referred student must apply via your referral link and have their Funding U loan approved and successfully funded. (Bonuses are sent out to the email address used for the existing/referring borrower’s loan).
Sign in here to get your referral code: https://www.funding-u.com/v3/users/returning
Learn more about the 2023-2024 Borrower Referral Program HERE
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NOTE: Per IRS requirements, Lenders/Servicers are only required to send you 1098 if your total interest paid exceeds $600 in a calendar year. If you have other private lenders they may not issue a 1098 but you can still deduct all student interest paid on your personal taxes. Please consult a tax professional for more information.
For 2023 you may have two 1098's one from Scratch for the period of 1/1/2023 - 8/31/2023 and one from Launch for the period of 9/1/2023 - 12/31/2023.
Note: If you only have a loan for AY23-24 then Launch will be the servicer who issues your 1098, if you have loans from previous academic years then you will have one 1098 from Scratch and one from Launch.
Note: If you only have a loan for AY23-24 then Launch will be the servicer who issues your 1098, if you have loans from previous academic years then you will have one 1098 from Scratch and one from Launch.
- Launch - your loan servicer - issues 1098 forms to all Funding U borrowers for the period of 9/1/2023 - 12/31/2023, regardless of what amount of interest you paid last year. 1098 forms typically arrive in the mail between late January and early February. https://www.launchservicing.com/
- Scratch - your previous loan servicer - issues 1098 forms to all Funding U borrowers for the period of 1/1/2023 - 8/31/2023, regardless of what amount of interest you paid last year. 1098 forms typically arrive in the mail between late January and early February. www.scratch.fi
NOTE: Per IRS requirements, Lenders/Servicers are only required to send you 1098 if your total interest paid exceeds $600 in a calendar year. If you have other private lenders they may not issue a 1098 but you can still deduct all student interest paid on your personal taxes. Please consult a tax professional for more information.
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As a special congratulations to our borrowers, we are sending $100 Amazon gift cards to those eligible for our Graduation Reward Program!
If you previously received a Funding U loan and have now graduated, email us at [email protected] to let us know and make sure to include the following:
- Proof of graduation date
- Final/last semester grades
- A copy of your degree
Learn more about the 2023-24 Graduation Reward Program HERE
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What if I am on AutoPay?
If you are currently registered for AutoPay, based on the signed authorization you provided to Scratch, we will securely transfer your bank account and routing number to Launch Servicing LLC. This will allow Launch Servicing LLC to seamlessly initiate your auto payments upon transfer. To be safe, we still recommend signing into your new Launch Servicing LLC account to confirm that autopay has been successfully transferred so you don’t miss a payment.
Will I still be able to access my Scratch online account after the transition?
How can I contact Launch Servicing LLC?
You can contact Launch Servicing LLC about your loan on or after September 1st.
Additional Questions?
Effective from August 31st, 2023, Funding U is switching loan servicers. Until that date, Scratch will continue to service all loans. Starting September 1, 2023, all loans made by Funding U will be transferred to Launch Servicing LLC, who will take over loan servicing. It's important to note that this change will not affect your loan's existing terms, conditions, interest rates, deferment, or forbearance plans.
What does this mean for you?
You should have received a notification via email and postal mail from Scratch regarding this change. Starting September 1st, 2023, Launch Servicing LLC will take over processing your loan payments and will be your point of contact for anything related to your loan payments. Alongside Scratch's communication, you will also receive instructions from Launch Servicing LLC on how to access your account through their portal.
What does this mean for you?
You should have received a notification via email and postal mail from Scratch regarding this change. Starting September 1st, 2023, Launch Servicing LLC will take over processing your loan payments and will be your point of contact for anything related to your loan payments. Alongside Scratch's communication, you will also receive instructions from Launch Servicing LLC on how to access your account through their portal.
Please note that all loans for the upcoming school year AY23-24 will be serviced by Launch. They will be boarded to the Launch platform, and you will receive information on accessing your account and loan in the coming weeks.
What if I am on AutoPay?
If you are currently registered for AutoPay, based on the signed authorization you provided to Scratch, we will securely transfer your bank account and routing number to Launch Servicing LLC. This will allow Launch Servicing LLC to seamlessly initiate your auto payments upon transfer. To be safe, we still recommend signing into your new Launch Servicing LLC account to confirm that autopay has been successfully transferred so you don’t miss a payment.
Will I still be able to access my Scratch online account after the transition?
- Yes! You will have ‘View' access to your Scratch online account until September 30th to review past statements, loan documents, and your payment history.
- You will not be able to make payments or take any other actions on your loan with Scratch Services after August 31st.
How can I contact Launch Servicing LLC?
You can contact Launch Servicing LLC about your loan on or after September 1st.
Contact Details
- Phone: 877-354-2629
- Correspondence: Launch Servicing, LLC PO Box 91910 Sioux Falls, SD 57109-191
- Payments: Launch Servicing, LLC PO BOX 679220 Dallas, TX 75267-9220
- Website: https://www.launchservicing.com/
Additional Questions?
Please email [email protected]
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To apply for the Dreamers Graduate Loan Program to All DACA & TPS click this link to start your application!
For more information about loan eligibility and terms, visit the Social Finance loan program website.
For more information about loan eligibility and terms, visit the Social Finance loan program website.
