Overview

No, there are no prepayment fees or penalties for paying off your loan early. You can make extra payments or pay off your balance in full at any time without incurring additional charges.

Can I Pay Off My Loan Early?

Yes! You may prepay your loan in whole or in part at any time without penalty.

✔ Log into My Account and navigate to the Payments section.
✔ Click the “Pay Off Loan” button to calculate your payoff amount and complete the payment.
✔ If you prefer, you may also contact customer support for assistance or mail a check to pay off your loan.

Important Considerations

📌 Making additional payments does not replace your regularly scheduled payment. Extra payments will only reduce the total loan term but will not allow you to skip or defer future payments. Your scheduled payment is still due on your regular due date.
 📌 Payoff amounts are calculated assuming that all scheduled payments before or on that date process successfully. If a scheduled payment is canceled or fails to process, the payoff amount will change.

How to Make an Early or Additional Payment

✔ Log into My Account and navigate to the Payments section.
✔ Select Make a Payment and choose the amount you’d like to pay.
✔ Confirm the payment details and submit.

Benefits of Paying Off Early

✔ Reduce the total interest paid over the life of the loan.
✔ Lower your outstanding debt sooner.
✔ Improve your debt-to-income ratio for future financial opportunities.

Next Steps

If you have any questions about making an early payment or paying off your loan in full, visit your My Account dashboard or contact customer support for assistance.