What does “amortized” mean?

Amortization is the process of extending a payment on a fixed duration of time. Specific to your Prodigy loan, we “fully amortize” your administrative fee. When your administrative fee is added to the loan amount, the payments of this fee are spread out evenly across your regularly-scheduled monthly payments.

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request


Article is closed for comments.