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Paid Ahead

You may pay more than your total due, using the payment method of your choice. When you pay more, your account may reflect a paid ahead or partially paid ahead status, based on your loan agreement.

Benefits of paying ahead

By paying more than the total due, you:

  • Pay less interest over the life of your loan
  • Repay your loan earlier

To experience these benefits listed above you can continue to pay every month regardless of the current amount due. If you decide not to pay, you may lose the associated benefits listed above.

The bottom line? Pay more now to save more later on your loan!

What will my bill look like if I am in paid ahead status? Can I continue to make payments?

  • If you satisfy a full future installment, your total amount due may reflect $0 on your next monthly bill. If you receive a bill for $0 amount due, it may benefit you to continue to pay since interest continues to accrue. Learn more about interest accrual. It may be necessary to continue to pay the full Monthly Payment amount when your loans are paid ahead in order to qualify for benefit programs, such as reduced interest rates or cosigner release, that may be offered by your lender.

    EXCEPTION: If you are billed for $0 under the Income-Based Repayment plan or are on a reduced payment forbearance, payments will not satisfy future installments.

  • If you satisfy a portion of a future installment, the total amount due on your next monthly bill will be the difference.

    For example: If your bill is normally $150 and you are paid ahead by $50, your statement may reflect an amount due of $100

How will my payments be applied to my loan balance if I am in paid ahead status?

  • When you make a payment that is more than the total amount due for all loans, the amount of the overpayment is allocated to the highest interest rate loans. Learn more about how we allocate your payments.
  • Regardless of your account being paid ahead or not, your over payment will be applied to your principal balance after satisfying accrued interest and late fees (if applicable).
  • For private loans, if your lender allows for paid ahead status, the overpayment will go towards satisfying a future bill. To find out if paid ahead status applies to your private loans, see your Credit Agreement or contact us.

How to Opt Out of Paid Ahead

Overpayments may result in a paid ahead status. If you do not want overpayments to be applied to future bills, the easiest way is to sign in to Account Access to make your selection. However, you can also contact us to opt out of paid ahead status by emailing us through your online account or calling us at 1-800-233-0557.

Payment Processing Information

You have options on how your additional payments are applied. Learn how we process your payments.

Debt Management

Is paying more on your student loan your best option? For more information on the most effective ways to pay down debt, budgeting, and your student loans—visit