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Is there a pre-payment penalty on each and every loan?




No. There are no prepayment penalty fee for federal and private student loans. This implies that you can pay extra on the loan to reduce its balance. You can even pay off the full loan early. You won't be charged any extra fee.

Sub: #1 posted on Wed, 04/17/2019 - 20:50

David Martin David Martin

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Not at all. There are no prepayment penalty fee for federal and private student loans. Normally it applies to the private personal loans.

Sub: #2 posted on Sun, 04/21/2019 - 22:59

Barbara Delinsky Barbara Delinsky

(Posts: 432 | Credits: )

No. It applies if you pay extra on a loan to reduce the balance without getting the permission from the lender.

Sub: #3 posted on Sun, 04/21/2019 - 23:01

Sanders Patricia Sanders Patricia

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