Paying Off A Loan: How do I make payments on my loan?

It is important to understand how your loan payments will be handled when you close on your loan and sign the loan agreement.  The specific method used for your loan will depend on your loan agreement.  You can find this information in your loan agreement or by consulting with your financial counselor or lender. Click here for an article no how to contact your lender.

The following payment methods are available to borrowers:

• Automatic ACH on Happy Mango: If you have signed up for automatic ACH on Happy Mango, your payment is made automatically on each payment due date according to the loan payment schedule.  There is nothing else you need to do.  You will receive an invoice in email and text a few days before the due date and a confirmation in email and text as soon as the payment has been made or failed. You can see the account linked to making the ACH payments on the loan by selecting "Loans" from the top right drop down menu. 
  
  
• Self-Initiated ACH on Happy Mango: If you want to make an unscheduled payment, you can click on one of the action links: "Pay Now", "Pay Off", or "Pay Early" on the "Loans" page.
   
• ACH outside of Happy Mango: You may have signed an ACH transfer agreement as part of your closing package.  However, if you cannot find a bank account linked to your loan on Happy Mango, such as in the above picture, it means the ACH transfer is being executed outside of the Happy Mango platform.  You can seek more information on how that works directly from your lender. 
  
  
• Payroll Direct Deposit:  If you have an employment based loan, it is likely that the payment of your loan comes from direct deposit of your payroll.  You would have signed a direct deposit authorization form when closing on the loan, and you can ask for a copy of your signed copy from the Payroll department at your employer.
  
  
• Other payment method agreed between you and your lender: You may have signed up to use a payment method different from the above from your lender.  To find out more, please reach out to your lender directly. Click here for an article no how to contact your lender.