Overview

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.

Steps to Pay Off Your Loan

1. Log into My Account and navigate to the Payoff Progress section.
2. Click the “Pay Off Loan” button and select your preferred payment date to calculate your payoff amount for that date. 
3. The payoff amount shown includes daily interest accrued through that date.  Any scheduled or pending payments before the payoff date are automatically deducted from the payoff amount.
   1. For example: If you are on AutoPay and have a $100 payment already scheduled, and your total balance (including daily accrued interest through your selected date) is $2,100, the system assumes that $100 payment will be made. Your payoff amount will therefore show $2,000. If the $100 payment is canceled or fails, the $2,000 payoff will not fully cover your loan.
   2. If you do not want scheduled or pending payments to occur before the payoff date, then you should turn off autopay and cancel any pending payments before scheduling your payoff. 
4. Once you have decided on your payoff payment date, you will select a bank account on file and finish scheduling your payoff payment.
5. If you prefer to pay by check, you can contact us for a payoff statement that includes a 30 day payoff table.  
   1. Checks are applied on the date they are received, not the date they are mailed.  If you plan to pay by check, be sure to allow 8-10 business days for your check to be received.  
   2. Any overpayment will be automatically refunded to you after your loan payoff has been confirmed.
   3. Check mailing instructions are available on your My Account dashboard.

Important Reminders

 📌 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.

📌 If your payoff payment is scheduled for a date that will cause your account to become past due, you may incur an additional late payment fee that will change the payoff amount.

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.

📌 Please note: 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.

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 are interested in making an early payment or paying off your loan in full, visit your My Account dashboard.