Making Extra Payments on Student Loans? Notify Your Provider!

If you are on the standard student loan repayment plan try making extra payments when you are able to. This will save you money on interest over the course of your loan term. Be sure to notify your loan provider, in writing, that you want extra payments to be applied toward your loan balance. If you don’t specify this they may apply the extra payments to future payments. If they do this you may not receive a bill for a month when you are paid ahead.