Thank you for bringing your loan current. Failure to do so will prohibit you from accessing any additional draw funds and you will accrue late fees and be subject to a higher "default" interest rate per the terms of your loan, so let's learn how to make your payments to get caught up.
You can now easily make your monthly interest and other payments (i.e. Extension Fees) from your Upright Borrower Dashboard. The following article explains what is now available on your Borrower Dashboard and how to make a payment. You can also still make a payment to FCI, the servicer of your loan, if you prefer.
After you've logged in to your Dashboard you'll see the below screen. Find the loan that you need to make a payment on and click the "Make a Payment" button. Before you click, make a note of the last 4 of the TIN that is associated with the loan. This data is provided right next to the Make Payment Button. You'll need this on the next screen.
After you've clicked the "Make a Payment" button you'll be taken to a login screen for FCI, your loan servicer. Your servicer ID will pull in automatically which you'll see on this screen. Take those 4 TIN digits you remembered from the previous step (or you can go back to your Dashboard to get these) and enter them in the box. Click verify.
After you've logged in you'll see the below screen. The first thing you'll want to take note of is the Status of your loan. You may also see a Validation Payment notification similar to below if your Loan is past Maturity, in which case you'll want to go hear to learn how to make a payment on a loan that is past maturity.
Delinquent Loan
The loan servicer only allows you to make one monthly payment at a time. The below covers how to make more than one monthly payment to bring your loan back in to good standing.
The first step is understanding how many monthly payments you are behind. To do this, look at the "Next Due" date in the information provided at the top of the page (See screen shot below). For example, if you see 09/01/2024 as the "Next Due" date and today is 10/22/2024 you will need to make 2 monthly payments (One is past due from 9/1/2024 and the next one was due on 10/1/2024). If today was 11/22/2024 then you would need to make three monthly payments (9/1, 10/1 and 11/1).
After you've determined how many payments you need to make to bring your loan current, you will scroll down further where you will see the fields per the below screenshot. You'll want to make sure the "Monthly Payment" and "Additional Payment" boxes are checked.
The monthly payment will be calculated for you in the box right below the "Additional Payment" box. This will include 1 of your past due payments. Going down to the Reserve box, you will need to enter a number that equals the additional number of monthly payments that are due to bring your loan current.
So sticking with the example from earlier, if today is 10/22/2024 and your Next Due is 9/1/2024, you need to make 2 interest payments. The first one is included already, so you would enter in a second payment amount in the Reserve box (in the screen shot below this would mean entering $2,937.40). If you were 3 payments behind, you would multiply this monthly payment amount by two (i.e. $5,874.80) and enter that number into the Reserve box.
If any late charges, extension fees or other charges have been applied to your account, you also have the opportunity to bring these current as well.
As you add payment amounts in the boxes, the Total Amount will update at the bottom. Make sure, at a minimum, this total amount is equal to your monthly payment multiplied by the number of months you are past due.
Once you're sure you have the correct amount you'd like to pay, click the Next button and you will be taken to a screen to enter your payment information. Once your payments clear, they will be applied to your outstanding balance per the terms of your loan agreement and the system will be updated accordingly.
Thank you for working to bring your loan current. If you have any questions or need additional help making your payment, please email [email protected]