Absolutely! Once your loan has been disbursed and is in full principal and interest repayment, you have the flexibility to make extra payments or increase your monthly Auto Pay amount at any time through your dashboard. There are no prepayment penalties or fees, so paying more than the required amount can help reduce your total finance cost and shorten your repayment term.
If you have a repayment plan that is interest-only, $25 per month, or deferred, you can still make extra payments; however, you won’t be able to change your required monthly minimum payment until after your 9-month grace period. During deferment, interest will continue to accrue, increasing your total repayment amount. Scheduling extra payments while in school or during your grace period can help reduce interest costs and help you pay off your loan faster.