What to expect with Launch Servicing student loan servicing

How do repayments work with Launch Servicing?

There are six different ways you can repay your student loans through Launch Servicing, from mailing a check to using its mobile app. First time? Have your bank account and routing numbers on hand — you’ll need them to connect your bank account for most repayment methods.

• Set up recurring repayments.

  The most hands-off way to repay your student loans through Launch Servicing is to set up recurring repayments to be automatically withdrawn from your bank account each month.

  You can do so by creating an online account and following the directions to register a checking or savings account for monthly repayments.

• Make a one-time online repayment.

  Making a one-time online repayment is a simple way to pay off your loans if you don’t want to make repayments on the same day each month. It’s also an easy way to make extra repayments to pay off your loans sooner.

  You need to sign in to your account on Launch Servicing’s website to make a repayment online. Have your bank account or debit card information on hand if it’s your first time. If you make a repayment before 6 p.m. CT, Launch Servicing will process it the same day. Otherwise, it won’t be processed until the following business day.

• Pay through the Launch Servicing app.

  You can make a one-time online repayment with just a few taps by downloading Launch Servicing’s mobile app from the App Store or Google Play.

  Log in using your online account credentials and add your bank account or debit card information if it’s not already saved.

• Use a bill pay service.

  Already use a bill pay service through your bank or a budgeting app? You can add your student loans to the list of monthly costs it covers. If you can sign up online, search for Launch Servicing when looking for the payee. Otherwise, have your repayments sent to the following address:

  Launch Servicing
  PO Box 91910
  Sioux Falls, SD 57109-1910

  When setting it up, enter your account and loan number as it’s written on your statement, including the dashes.

• Pay over the phone.

  Make repayments over the phone with your bank account or debit card by reaching out to customer service. Unlike some other servicers, you have to speak to a representative to make a repayment. Its customer service team is available weekdays from 8 a.m. and 5 p.m. CT.

  • Toll-free number: 877-354-2629

• Send a repayment by mail.

  If you prefer to pay by check, you can mail it to the following address:

  Launch Servicing
  PO Box 91910
  Sioux Falls, SD 57109-1910

  Write your name and account number directly on the check. Include the detachable portion of your paper statement in the envelope.

How can I pay off my loans early?

You can make additional repayments online, over the phone or by mail. Reach out to customer service to find out how to give Launch Servicing instructions for how to apply your funds.

How to contact Launch Servicing customer service

You have three different options for getting in touch with Launch Servicing’s customer service team:

Over the phone

Launch Servicing’s customer service team is available weekdays between 8 a.m. and 5 p.m. CT by calling:

• Toll-free number: 877-354-2629

By email

On the go? Drop a note to Launch Servicing by emailing:

• Borrower email: customerservice@launchservicing.com

Send mail

Send all general correspondence to the following address:

• Launch Servicing
  PO Box 91910
  Sioux Falls, SD 57109-1910

How to refinance your Launch Servicing student loans

You can refinance your Launch Servicing student loans by taking out another loan with a private lender. Refinancing can get you more competitive rates or flexible repayments. It’s also the only way to switch servicers if you’re unhappy with your experience with Launch.

Compare student loan refinancing options

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Name	Product	Min. Credit Score	Max. Loan Amount	APR
Figure Student Loan Refinancing		680	$250,000	1.93% to 6.68%	Enjoy no fees, low rates and flexible terms — but only for borrowers with good credit.	Check my rate More Info	Compare	loading Fetching your data...
Splash Financial Student Loan Refinancing		660	None	Starting at 2.27%	Save on your student loans with this market-leading newcomer.	Check my rate More Info	Compare	loading Fetching your data...
Credible Student Loan Refinancing		Good to excellent credit	None	Starting at 2.21%	Get prequalified offers from top student loan refinancing providers in one place.	Check my rate More Info	Compare	loading Fetching your data...
Education Loan Finance Student Loan Refinancing		680	None	2.39% to 6.01%	Lower your student debt costs with manageable payments, affordable rates and flexible terms.	Check my rate More Info	Compare	loading Fetching your data...
Earnest Student Loan Refinancing Variable Rate (w/ autopay)		650	None	1.89% to 6.38%	Get a tailored interest rate and repayment plan with no hidden fees.	Check my rate More Info	Compare	loading Fetching your data...
SoFi Student Loan Refinancing Variable Rate (with Autopay)		650	Full balance of your qualified education loans	2.31% to 6.48%	A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.	Check my rate More Info	Compare	loading Fetching your data...
Purefy Student Loan Refinancing (Variable Rate)		620	$300,000	2.27% to 7.49%	Refinance all types of student loans — including federal and parent PLUS loans.	Check my rate More Info	Compare	loading Fetching your data...

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What do borrowers say about Launch Servicing?

Nothing, as of February 2019. So far nobody has filed a complaint against the servicer with the Consumer Financial Protection Bureau (CFPB). It also doesn’t have a Better Business Bureau or Trustpilot page. Even Reddit is silent when it comes to mentions of Launch.

This isn’t all that surprising, given the company was founded just a year ago. And it’s not necessarily good or bad — it could simply mean it serves a small group or that its customers are satisfied enough to avoid complaining. But it makes it more difficult to tell what kind of experience you can expect if you refinance with a lender like Connext that uses this servicer.

What to expect with other student loan servicers

Bottom line

Launch Servicing is one of the more user-friendly servicers out there, with an easy-to-navigate website and mobile app that allows you to make repayments with a few taps. But with such little information online about customer experiences, it’s difficult to tell what to watch out for.

If you’re unhappy with your experience, consider refinancing with another lender that works with a different servicer. You can find out how it compares to other companies by reading our guide to student loan servicing.

Frequently asked questions

• How do I apply for deferment or forbearance with Launch Servicing?

  You can find out if you’re eligible for deferment or forbearance by contacting customer service — the quickest way is to call. If you’re going back to school or facing financial hardship, you might qualify to put your repayments on hold.

• How do I change my repayment plan with Launch Servicing?

  It depends on your lender. Typically with private student loans, the only way to change your repayment plan is to refinance with another provider. You usually need to have good credit and a low debt-to-income ratio to qualify for a better deal with a private lender.

• Is Launch Servicing the same as ReliaMax?

  No, Launch Servicing is a separate student loan servicer. However, when ReliaMax stopped servicing student loans, Launch Servicing took over its accounts. So if you formerly had a loan that you were repaying through ReliaMax, Launch Servicing is now your servicer.