Cutting costs by prepaying - salliemae

Cutting costs by prepaying

All federally sponsored education loans and most private loans let you pay off some of your loan—even the entire amount—before payment is due without penalty.

If you have some money left over each month, instead of spending it, why don't you pay down your student loan? This is a sure way to reduce the total cost of the loan.

Any extra payments you make are applied to the principal of the loan, after the accrued interest and any outstanding fees (if applicable) are satisfied. If you reduce your principal—even by a little—you reduce the amount of interest you have to pay over the life of your loan.

Are you thinking of paying off your loan entirely?

Learn the full balance (accounting for all accrued interest) from Manage Your Loans^SM first.

Submitting extra payments is easy

Just log in to your Manage Your Loans^SM account to make one-time payments, schedule future payments, or learn your balance.

Pay down your loan with Upromise

Another way to pay down your loan is through Upromise Loan Link^SM. When you join Upromise^® you can link your Sallie Mae^® loan account to your Upromise account and use your Upromise rewards to help pay down your eligible Sallie Mae-serviced student loans. Enroll today at www.salliemae.com/upromise.