Absolutely! Once your loan has been disbursed, you can make additional payments directly from your dashboard, and there are no penalties or fees for paying off your loan before your repayment term ends. While your loan is in deferment, interest will continue to accrue while you’re in school, which will increase the total amount you will end up paying on the loan. Scheduling extra payments while in deferment, or during your 9-month grace period can help keep your total costs down, and help pay off the loan sooner. It’s important to note that the nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
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