An allotment is where you set up loan payments to be automatically deducted from your paycheck and then applied to your loan. The funds are deducted prior to receiving your paycheck allowing for timely payments.
Typically, allotment payments are managed through your employer via the payroll system. Allotment loans are commonly offered to government employees.
If you have questions about your current allotment set up, we recommend first contacting your employer to confirm configuration. If you have additional questions about your current loan, contact us!