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Borrowers FAQ

Frequently Asked Questions for Borrowers

How do I sign up and register for account access?

Signing up for access is quick and the most convenient way to keep track of your loans. To create your account, visit our registration page, fill out the form and submit. Enter your name exactly as it appears on your welcome letter or any other correspondence from Launch Servicing. Log in to your account at LaunchServicing.com at any time. Account access is available to anyone with a loan serviced by Launch Servicing.

How do I make a payment?

Borrowers and cosigners may make payments in multiple ways. The easiest and most convenient way is to log in to your account on LaunchServicing.com and make a payment with a checking or savings account. For even more convenience, you can set up recurring payments online so that your payments are made automatically. You can also use bill pay through your bank’s online bill pay service. (Make sure they don’t charge a fee!) Payments can also be received via mail or paid by calling Launch Servicing at (877) 354-2629.

If your AMOUNT PAID is more than or less than the TOTAL DUE, you may provide direction on how to apply your payment. Your directions will remain in effect until you provide different directions.  If no directions are provided, please see “How are payments allocated?”

What additional benefits are offered for Ascent borrowers?

If you currently have an Ascent private student loan, Ascent may offer additional benefits for your loan.  Please see here for a list of which benefits, if any, may apply.

How are payments allocated?

Payments with an accompanying payment coupon will be applied to the loan(s) listed on the bill.  Auto debit payments will be applied to the loan(s) listed in the auto-debit agreement.  Online payment allocation is determined by how you submit the payment.  Payments, full or partial, received without instructions, will be applied first to any accrued interest, then to principal, up to the monthly principal payment amount.  Any remaining amount will pay fees, if applicable. If you have multiple loans and the payment amount is not equal to the payment amount billed, the oldest payment due will be satisfied first.  If all due dates are equal, the payment will be allocated to the loan with the highest interest rate. 

What happens if I pay more than or less than the amount due?

You may specify how to allocate one-time payments or all future payments. Log into your Launch Servicing Account to make a payment and enter the payment allocation instructions you would like with additional funds or across multiple loans.  You can also call us to provide your specific payment instructions. 

Paying more than the Monthly Payment Amount may prepay your account by up to three (3) months.  If you are prepaid or paid ahead your next payment due date could be up to three (3) months from the date of your current Statement Due Date.  Monthly billing statements will continue to be sent and may reflect $0.00 due. If you prefer not to advance your due date with the excess payment you may contact us, and we will adjust the due date. If your loan is paid ahead and is set up for automatic (recurring) payments, a payment will continue to be deducted each month while a balance remains.

Payments received in an amount less than the Monthly Payment Amount may result in the loan becoming delinquent and may incur a late fee.  The detail sheet (page 3) of your billing statement provides late fee information. If you are unable to make the full monthly payment due, please contact our office. There is no guarantee, but we may be able to help you through your temporary financial hardship.

How do I view my billing statement?

You can view your billing statement by logging into your account and clicking History and then Billing Statement. This will give you access to view all billing statements while the loan is serviced by Launch Servicing.

How do I change my password if I forgot it?

On the Login Page, click the “Forgot your password?” link and follow instructions for resetting your password.

How do I change my username if I forgot it?

On the Login Page, click the “Forgot your username?” link and follow instructions for receiving your username.

Why am I paying Launch Servicing and not my lender?

Launch Servicing is contracted by your lender to provide you exceptional service throughout your entire loan experience – from loan origination to the day you pay your loan in full. We are here to help your lender help you succeed.

What is the difference between the lender and servicer?

Great question. This can sometimes get confusing. The lender provided you the opportunity to obtain the loan. The servicer is contracted by the lender to service your loan after it is disbursed and through the repayment term.

How do you keep my personal information secure?

Your security is important to us. To ensure that your personal information stays safe, we utilize multi-factor authentication. The first time you log into your account from a new device or browser, you’ll enter your username and password as usual. Then, you will be asked to enter a unique code that we will send to you via email. Check your email for the access code and enter it when requested. If you have questions or need help logging in, contact us.

What alternative repayment plans or loan forgiveness options are available?

Your lender may offer alternative repayment plan and loan forgiveness options.  Please contact us to determine if you are eligible.

*Student Loan Borrowers*
For Washington State borrowers, you may contact the Washington State Student Loan Advocacy for assistance.

How can I get released from my cosigner responsibilities?

Your lender may offer cosigner release.  Please contact us to determine if its available on your loan program and the eligibility criteria. 

How do I request a Payoff Statement?

Your loan accrues interest on a daily basis.  To obtain an accurate payoff amount, you can contact us and provide the date you are expecting the payment to be received at Launch Servicing to receive a Payoff Statement. 

How can I designate a legal representative in the event of my death?

*For Student Loan Borrowers*
For loans made on or after November 20, 2018, the Economic Growth, Regulatory Relief and Consumer Protection Act provides student borrowers the option to designate an individual to have the legal authority to act on your behalf in the event of the death of the student borrower. If you wish to designate an individual, please contact us by your secure online portal or calling 1-877-354-2629.

How do I get a copy of my credit agreement?

You can contact us and request a copy of your credit agreement.

How can I obtain my lender’s Privacy Policy?

To obtain your lender’s Privacy Policy, you can go to your lenders website to review.  If you do not know who your lender is, you can contact us to get this information.

Where can I send my account dispute?

You can submit your dispute and any supporting documents quickly by logging into your online account at www.launchservicing.com and clicking Messages.

You can also mail your dispute directly to Launch Servicing, PO Box 91910, Sioux Falls, SD  57109-1910.

You must include the following information:

  • Your full name, address, phone number and account number.
  • Specific details about the information you are disputing.
  • The reason you believe the information is not accurate.
  • Any relevant supporting documentation.