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When do I start making interest payments?
When do I start making interest payments?
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Written by Upright
Updated over a week ago

After your prepaid interest period ends. Your loan has a built-in prepaid interest escrow period.

You need to start making interest payments the first of the month, the month after your escrow ends.

For example: May 31, escrow ends. June 1, billable interest begins accruing. July 1, first interest payment due. All following interest payments are due on the first of each month. Payments must be paid by the 10th of each month to avoid incurring a late fee.

You can also set up automatic payments to avoid any late fees or hassles: Click HERE and follow the instructions to authorize automatic payment. It takes 3 minutes!

Once auto-pay is set up, you will receive email invoices, but no further action is needed. Funds will be withdrawn from your account on the due date.

If you have any questions about making the interest payments on your loan, please contact the Account Management team ([email protected]).

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