When I use the Skip-a-Pay program, does it also skip my interest for the month?

Frequently Asked Question

Your interest/finance charges will continue to accrue at the rate provided in your original loan agreement. Deferring payment(s) will result in higher total interest/finance charges than if payments were made as originally scheduled; and will extend the terms of loan(s) resulting in extra payment(s) after you loan(s) would otherwise be paid off.