How do I make a payment to my loan?

Interest payments are generally collected via ACH, and principal payments to your loan can be made via wire transfer.

  • Interest payments can be debited every 30 days (excluding holidays and weekends) from the bank account linked in your profile for which we have an existing ACH agreement, which is an optional feature in every loan contract. You can also send the payment manually every 30 days to the Unchained account information available in your loan account behind the View Payment Instructions button. 
  • Principal payments can be made via wire transfer using the instructions found on your loan behind the View Payment Instructions button. Principal payments immediately reduce future interest payment obligations when applied. 
  • The final payment to your loan needs to be sent via wire transfer. You can begin the loan close process at any time by navigating to your loan account page, clicking SHOW MORE, then Loan Close and select the option to settle the payoff amount as well as the corresponding date. There are no prepayment penalties for paying off the loan early.

Please include your loan ID in the memo field for all wire transfer payments so they may be allocated without delay.