Why Is the Total Balance on My Loan Less Than the Total Sum of My Minimum Payments? | Repaying Your Loan

Your loan accrues a small amount of interest each day. When we calculate your minimum payments due, we round up to the nearest cent to ensure that your loan is paid off on time. Ultimately, we charge a smaller amount on the last repayment to account for this rounding. Please be assured that we never withdraw more from your bank account than the total amount required to pay your loan.