No, if you find yourself ahead of the game, you can make additional payments at your convenience with NO prepayment fees or penalties. Prepaying your loan will reduce future interest payments.
Articles in this section
- What if I'm unable to make a payment?
- How do I make payments?
- Can I change my due date?
- How does autopay affect my final payoff payment?
- What is autopay and why should I enroll in it?
- Can I make additional payments?
- How do I view upcoming payments and confirm a payment was received?
- Are there pre-payment penalties?
- If I want to pay more than the monthly payment, or make additional payments, will those payments be applied to the principal?
- Is the interest paid on this loan tax-deductible?