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Is there a pre-payment penalty for every loan?

Submitted by JacobGrin on Tue, 04/16/2019 - 23:03

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.

Submitted by David Martin on Wed, 04/17/2019 - 20:50

David Martin

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